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PROVISIONALLY PRICED SALES:
 9 Months Ended
Sep. 30, 2014
PROVISIONALLY PRICED SALES:  
PROVISIONALLY PRICED SALES:

NOTE 5 — PROVISIONALLY PRICED SALES:

 

At September 30, 2014, the Company has recorded provisionally priced sales of copper at average forward prices per pound, and molybdenum at the September 30, 2014 market price per pound.  These sales are subject to final pricing based on the average monthly copper prices on the London Metal Exchange (“LME”) or New York Commodities Exchange (“COMEX”) and Dealer Oxide molybdenum prices in the future month of settlement.

 

Following are the provisionally priced copper and molybdenum sales outstanding at September 30, 2014:

 

Copper
(million lbs.)

 

Priced at
(per pound)

 

Month of
Settlement

 

34.7

 

$

3.04

 

October and November 2014

 

 

Molybdenum
(million lbs.)

 

Priced at
(per pound)

 

Month of
Settlement

 

11.1

 

$

10.55

 

October 2014 through January 2015

 

 

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.