option related?, page-6

thats trading..:9 what a suck, but that is the risk of investing in mning companies, or one of them anyway...

in reality the market wrote off the value of lihir a long time ago, ncm was 36.20 when the merger went throught, hit its high as a merged entitiy and then has been battered as problems came out.

Good news is that they used scrip and we are not in debt to maybe a non cash write down later, but full year guidance still maintained with other mines cranking up, and production trashed for this QTR offset by large margin expansion ........

No doubt the momentum traders are now on the short side but TSX coming in early MArch and still think even with all thelihir problems, with profits up by 50PC and the value of lihir basically written off, reaction is standard and it should recover a fair bit..nasty sell downs nothing more than brokers liquidating leveraged long positions...

And sadly expectation of 37 with gold going up 1780 today is off the cards today...