Look at the volume. Going going gone. The pundits are calling for very serious dulldrums over the next 2 months. I'm thinking of taking another 40,000 off the table. If the company wants to keep people at the table things are going to have to change and fast. It won't be enough to show potential. They will have to show a survival strategy. I don't see how they are going to insulate us against the coming storm. Perhaps they plan to try waiting it out. The problem with that is we are looking at 2015 before things start to smooth out and that's IF many things come together. There are a lot of respected people saying they can't see how this fiat fiasco can continue beyond July and I find that alarming. That's a rather quick change from 6 months ago when they were saying the govt's might be able to pull another rabbit out of the hat.

The article on Vette's site about Barrick is absolutely true. And, Teck wants to put itself in a similar water position?? I think they need to act on us fast so they can guarantee supply. There's no reason for them to delay. They do have their own in house FS guys. If we don't see the things I mentioned before in the next 2 weeks it will be time to stand on the sidelines and watch the stock implode. I have discussed the sp issue with them over the last 2 years and made the correct calls. They know it. So this call to caution is probably right and the data supports it. I hope the time line is wrong so we can have some more time but now big names are saying it could come faster.

That puts us all in a bad position. FS coming and spot offer in the wind but we must take a horrible risk. That risk is unacceptably high for me. And worse, If we are expected to ride it out untill 2013-2014 there may be additional delays because there's no market. So what could/should have been 2011 ends up happening in 2015. Now that's alarming. Looking at Teck's supply metrics leads me to believe they will act. But, if they don't them I'm dumping Teck and Copper Fox. Yes, I dumped Barrick 2 months ago. There's a few others on my large cap list that need to get whacked for the same reasons but that's another story. So what I'm getting at for guys with large spreads is that it's time to get defensive.