Bullish and loaded with it at avg price of $1.54

The numbers were not great, as Mt Polley copper slipped a bit, as predicted. That said, they did not issue new shares, but forced the convertible a year early. How could they do that? Well, it was held 100% by Norman Murray Edwards, who has carried the company and owns almost 50% of the stock. He did not need to do this, and gave up the coupon to reduce costs. Likely they are looking to get more permanent financing at more attractive levels, as straight debt had a 12% coupon, most of which Edwars also owned. In addition, they retired somewhere near $200 million in 12% debt. The real story, however, is the Red Chris mine, which has a pre-feasibility study on the block cave future of the mine, put out by Newcrest ,who owned 70% of the mine before the Newmont takeover. Newmont has determined this to be a Tier 1 mine. At peak, starting in FY 29, and running for 6 years at peak level, it is expected to produce 80,000 metric tons of copper annually, and 316 ozs. of gold. This year, the estimate(not underground) the mine will produce 80 million lbs of copper and 86,000 ozs. of gold, so the new target is 176 million lbs of copper or 96 million additional lbs. And the gold, will be an additional 230,000 ozs. Imperial gets 30%, so the new production will add, for Imperial 95,000 ozs of gold and 29 million lbs of copper. At today's prices, let's say $3,500 for gold and $4.50 for copper(like Q3), this will add $332,500,000 for gold revenues and $150,000,000 in copper revenues. This is more than a 50% increase from today. The pre feasibility study can now be obtained only from Newmont's website by searching for it by name. Newmont reports all revenue as gold or gold equivalent. Imperial reports all revenues as copper or copper equivalent.