Re: TRQ Update from SA
The market is in an OT-hate stance. TRQ down close to 5% on this update, of course given where they are at it is only a few cents shaved off.
Personally, I think they did the right thing to publicize the geotechnical issues with rock stability, and they say as much - the intent is long term productivity and safety, and shareholder return. You have to wonder if the project was in another jurisdiction whether the engineering issue would cause such a steep tipping point with investor sentiment.
The mine should be a big money maker through up copper cycles, and as bottom tier cost producer should do just fine in the down cycles as well. Yeah, I’m a contrarian for sure, there will be a buyout before the full value is recognized in the share price but still, folding your cards at this stage? Meet your bet and I’ll raise it compadres. You don’t claim the pot that easily RioT, nor you pesky Mongolian politicians.