WOW - i get the feeling this is the sickening moment when they realise they don't actually have the silver.
they've been washing dirt! look at those throughput grades!! they are terrible!!
and its all this shallow oxide ore?? are they even doing grade control drilling as they mine? seems very amateurish to me
either that or mangement really need a lesson in communicating to the market. they've been hurt previously by coming out with a list of problems in presentations. at the time, i appreciated the honesty. i can only hope that this time its the same - a minor glitch and mangement not being very savvy with how they communicate.
with the hedging, i think two extremes are possible by xmas. either we learn that a minor error has caused a major overreaction or they are suspended from trade and done for.
they are in a terrible position if they can't find their ore and meet that hedge!! imagine having to buy on market with silver looking so bullish now!! they would get destroyed!
CCU Price at posting:
32.5¢ Sentiment: Sell Disclosure: Not Held
