You’ll know what this means: “burp”.

Just couldn’t resist a little bit more earlier this week. Ridiculously cheap IMHO. Yeah yeah, everybody is spooked by global conditions and variable outlooks. I’m taking the optimistic view. I don’t think we’re headed into some new dark ages, there is still significant pent-up demand for consumers and infrastructure. Eventually copper is headed much higher.

So, “all in”. This pack of jackals around OT are going to spring a resolution to get rid of us some day. Pending the TRQ stake through the heart maybe not for a little while, but after that there will be some push to exit if there is no place for ETG at the free cashflow from full production table. And my call is “no way”, we’ll never see cashflow. Rio and Mongolia have plans of their own. Some rhubarbing behind closed doors along the lines of “if not now, then when”?

It’s just a prolonged, delayed negotiation. All of it.

cg