The only thing to keep in mind is that when the analysts provide the reports they also provide the assumptions their analysis is based on.
For instance the Euroz report valuation of 18c was based on, many things, but the three of interest to me were:
C1 costs 2017 1.31 US/lb
Cu production 14.0kt
Cu price $2.65
The unexpected, unrequired pre-release activities report the other day reported:
C1 costs 1.51 US/lb
Cu production 3,506 tonne copper in concentrate in line with 2017 guidance.
Cu price currently is around $2.55 US/lb.
The C1 costs and Cu price currently are both lower than the assumptions for 18c. Not by as much as 33% which is ridiculous, but we need to keep the analysts assumptions in mind.
The pre-report report did give some reasons as to why the C1 costs were up, and given the shutdown/maintenance mentioned it might be reasonable to assume that going forward the production values will be higher.
If this is the case that's why a total amateur like myself would have simply released a single activities report showing the previous quarter but giving some very good upside guidance for the rest of the year to reassure investors.
Anyway, I'm sure there'll be enough good news being released for some big investors to buy in May and stay, stay, stay.
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