"So by your rationale, if prices during the boom were close to $200USD per tonne, and prices now are $100USD per tonne, why are TTY in such a financial mess. I can accept the hedge for a little pain, but the numbers you are talking are very high, hence there should be some free flowing money."
Guyvol not sure what prices TTY got for their ore back then. Never the less it would have been far more then now.
I'm a little bewildered your leaving out or not aware of the TTY funds squandered by Keirnan on investment misadventures. This is one significant reason TTY need to lend money. The other is the currency hedging. I'm equally bewildered how you refer to this as a little pain. I believe this little pain as you put is north side of $50mil.
One thing that needs to be stressed is Frances Creek is making money. The company isn't making money because of its currency hedging. Hedging expires next month.
come on..., page-45
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