XML 55 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
PROVISIONALLY PRICED SALES:
 3 Months Ended
Mar. 31, 2014
PROVISIONALLY PRICED SALES:  
PROVISIONALLY PRICED SALES:

NOTE 5 — PROVISIONALLY PRICED SALES:

 

At March 31, 2014, the Company has recorded provisionally priced sales of copper at average forward prices per pound, and molybdenum at the March 31, 2014 market price per pound.  These sales are subject to final pricing based on the average monthly London Metal Exchange (“LME”), or New York Commodities Exchange (“COMEX”), copper prices and Dealer Oxide molybdenum prices in the future month of settlement.

 

Following are the provisionally priced copper and molybdenum sales outstanding at March 31, 2014:

 

Copper
(million lbs.)

 

Priced at

 

Month of
Settlement

 

73.1

 

$

 3.03

 

April and May 2014

 

 

Molybdenum
(million lbs.) 

 

Priced at

 

Month of
Settlement

 

8.0

 

$

 10.80

 

April to June 2014

 

 

Management believes that the final pricing of these sales will not have a material effect on the Company’s financial position or results of operations.