Value Microcaps Motherboard

[cliffvb]

cl001, I'm not clear as to what your point is. QUA hedged 91 million lbs of copper production which is less than the 121 mil lbs they produced in 2006. The hedge that carried over into 2007 is for material that was mined last year but has not yet been final settled as it takes several months to ship and refine the product and the final price is not settled until that happens. QUA said that the hedge would only apply to material that was mined in 2006 and that is what happened. QUA has always said that production can be higher or lower than the estimates depending on what they run into. Every miner deals with that. I'm thinking they are being conservative with their production estimate for this year.

Production may well be down some in Q2 vs Q107 but the price of copper will be much higher which means still higher profits. Maybe we are splitting hairs here but glad you decided to jump back in. Btw, I also bought BMC today which is one of your favorites. Thanks for your info on that one.