Jul. 2 at 2:07 PM
$HBM Nobody is doing the math.
Gold =
$4,130. Silver =
$61.62. Copper =
$6.20/lb.
Q1 byproduct credits from their gold + silver alone: ~
$4.93/lb of copper.
C1 cash cost was already -
$1.80/lb in Q1 when gold was
$3,000.
Run it at today’s metals prices — you’re looking at C1 approaching -
$3.29/lb.
That’s
$9.49 of margin on every pound of
$6.20 copper they sell.
124,000 tons of copper guidance this year = 273M lbs.
Do the math. The stock is at
$23. The market is sleeping.
