ville,
Just for some balance:
They don't have any debt.
They hold 20% of SFR
PH operations still one of the lowest cost of production copper mines in Australia at $120 per ton. They have the Carapateena resource for the future.
They have a wad of cash to buy something at the right price in terms of M&A. What will it be and when? I think holding fire till the market prices are low is not a bad news story but a good one. I think we are near to the bottom of the economic cycle in 2h of 2012 so the time for M&A is now (next 3-6 months).
Commodities price holding up ok even in the bottom of the cycle - gold is great price.
Definitely time to buy with SP below $7
wouldn't you know it!!!, page-9
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