A very well run company. Generating an awful lot of cash at these prices. Outlook for the base metals market next year is a bit softer because the economy is going to be soft. Wouldn't be in a huge rush to own, but over time shareholders will be rewarded.
Numbers were a little bit below expectations. Adding acquisitions. Extremely strong balance sheet. Feels it can trade back up in the mid-$20's. Could be a takeout.
It is facing the rapid decline in copper prices. You will probably see some element of earnings being reduced. Seems to be holding here reasonably well. If you’re reasonably optimistic, like he is, some of the metals are looking a little more interesting.
Paying a special dividend towards the end of the month. Outlook for copper is a little more guarded at this stage. If there is a re-acceleration of the economy, the stock can spring back to life and trade in the mid-$20's. Would take a little money off the table at that time.