re: fin review today / missed it
Hayman, did the AFR actually say 30% of CMR was issued to Hunan? Or is that yr slip of the pen?
"Hunan is to take a placement of almost 30 per cent of Compass's shares at $2.50 a share, paying $30 million in total. The price is a steep discount to the present price of more than $4.30. The stock was at $2.62 before the announcement."
Hmmmm ..... not my kinda arithmetic if so haha. And certainly no in-depth as to the implications of this massive quantum event.
Anyway, found what I was looking for viz sulphides concentrates versus local metal prelim figures in the June 04 report ...... not as I said Sep 05 .... how time flies. So much in the CMR website for them who care to look (assuming Jason has removed his naughty alternative haha). Here's the relevant bit which catches the attention :
"A 1 mill tpa Australian project which utilises only 20% of the presently identified resource has NPV AUD 220 mill (IRR 38%) @ 7.5% discount rate, whilst project with offshore treatment of concentrates showed NPV improvement of AUD 138 mill, both models using the long term metal price assumptions lower than current"
That statement was made in June 04 ....... what were the metal prices then? Are we all still assuming AUD 1.25 / lb for Cu ? Will we still be assuming that when current apparent PEAK Copper scenario sends prices higher into our production window? And what effect on the NPV going from 1 mill tpa "kids stuff" to more appropriate 4 mill tpa now on the table?
As a long term shareholder in CMR am personally interested in best value NPV, so am holding out views until I hear final details. Irrespective tho, supports my personal belief we are in a win/win anyway we look at it and gotta start wondering how soon we will really start hitting our straps wrt upward re-rating to MORE APPROPRIATE market cap for status and likely "imminent" and ongoing developments in comparison to our peers.
I also think Oz investment community needs a sharp kick in the butt for allowing FOREIGN ownership of CMR to now approach 50% when commonsense should have had this treasure 100% Ozzie owned.
Guess u could argue that 50% of fast tracked, twice the production rate and prob double the size, is better for our pockets. And of course, they dont get a sniff of the mellow yellow which is gonna be the icing on this beautiful cake.
The debate could go on and on. But no-one is gonna care once we start bringing on the drill results from U-JORCing program about to begin and targetting, at last call, about 8 priority glowing hotspots ...... tho they keep changing this count cos there are so many to choose from.
And with PGM prices now the new focus of the global funds as well, u gotta have a squizz over the preliminaries I stumbled across in the Sep 04 Q report re EL 23436 / Sargents, 10ks to the south of Batchelor. Lotsa cash in hand now to do the whole jungle justice Olympians.
Gotta keep it KISS for now I guess ... so much on the plate and happenings so fast. I'm lining up parties right thru to Xmas already haha.
IMBOOC .......... about time u actually researched the website aint it?
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
