It was contrary to the short term mini-trend i'm seeing too ... but in my often-fallible judgment, we've seen most of that mini-trend, in terms of price if not time ... also in the reasoning was that some recent cash came in the form of usd, so i put it directly in the F account, denominated in usd, then spent it mostly on the canuck side, added to two US listings but most was just being used as credit against canuck positions, so there is an interest differential, only three per cent or so when in that direction, still it's a dead cost when you don't perceive forex to be in your favour, which i didn't thursday, rightly or wrongly
Resource World out with dec-jan issue, good piece on vulnerability to energy costs in it, also how a number of miners are looking at alternative energy concepts ... makes sense when you're way off the beaten track and have to start from scratch anyway, probably makes sense if you're right beside an oil refinery and on hydro grid too, imho ... lower grades get even more iffy if you factor in a doubling of the price of diesel, also even fairly high grades up north have to think it out carefully - imagine what some of them pay just to heat their bunkhouses and cookshack, plus diesel costs a lot more up there because it takes trucks and labour and more diesel to bring it in ... one useful metric for us would be, how many litres of diesel will that tonne of zinc or ounce of gold cost? |
