Quadra FNX Mining Ltd (QUX.TO)

Long in stock. Main play is copper. Base metal companies generally trade at low PE multiples. Great stock. Trading cheap because people don’t think price will stay.

Then $11.62 Had a great quarter, has lots of potential ahead of it. Thinks it will go to $24 or $25 in the next 2 years.

Copper/gold production. What you really have to watch for and make a fundamental guess on are copper prices sustainable. If not, smaller companies get hit first. Mine is expensive and companies have to raise money on a regular basis.

Want to look for support at the price gaps. Stock has come down to a gap that was created on April 5th at $11.40. This is an important level. If it breaks through, it might drop down to the next step level of around $10.40. You should exit before it hits the next gap.

A cheap stock. If you believe the commodity price of base metals will go down, sell. If you believe that commodity price of base metals will stay the same or go higher, it's a very cheap stock.

Acquiring Molybdenum International. The molybdenum market is quite good and the fundamentals are quite strong. Low PE.

Made a misstep by having copper hedged. Hedges and now gone. Made $1.13 last quarter. Stock is cheap. Have some new mines they will be putting into production. Recently bought a molybdenum asset. In copper stays were it is or goes higher, the Company has a lot of leverage on the upside.

Misunderstood copper project. Have the Robinson mine in Nevada with some hedges against it and ore problems, but on an operating cash flow basis, making more than $2 per share per quarter. Tried to buy Australia's Equatorial Mine and got a $25 million fee. Looking for another acquisition but if they don't find one, someone will buy them.