Understandably, over the years they've focused a lot of resources on the exploration side conservatively; the liability on these mines can be high if they "guess" wrong. They commit, but leave themselves a way to retreat if something about the deal doesn't pan out. Fundamentals through production is something that we haven't seen yet and are looking forward to - even if I won't know how to act!
There are two companies they have been dealing with. Same basic cd with both, different terms. I've noticed in the Q's the discount terms have sunk a little deeper as time goes on. The AS reserve requirements tends to vary as well. They don't show details in the Q's about the terms, so I'm not sure if these discounts can vary between tranches in the same block.
I've had fair luck identifying some of the transactions by reverse engineering; using the trade price to figure the discount with a 10 day close average. Lol, when I'm wrong I can count on 567 to reenforce my mistake for a few....weeks?
You're right, the discount can be fought. It takes momo or a lot of volatility in the pps to improve the 10 day average. It's like pushing a car uphill - the minute you let go...
(We had a good thing going after the RS by forcing a high close for a few days there - we couldn't keep it up.)
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