hard road for the moment

the sellers have really stacked up the queues haven't they.

Some hard yards ahead for laf in the the short term.

I ran some updated numbers through my spread sheet last night. The earnings potential has been hit a bit of a blow, mainly because of the drop in spot Cu prices, almost a reduction of 10 million US$ in spot Copper earning/year.

I get a total EPS of 15c/share. This does not account for any costs or the hedge book.

EPS of 0.09c without hedged earnings using last hedge schedule.

so at the moment it seems pretty fair value.

Until we see some production numbers and the adjusted hedging schedule, it's quite difficult to say where LAF should be.