compass shorts, page-10

There is intrinsic fair value in the Omegas Browns and satellites resource base and its advanced status that goes well beyond the current price, hence why I call it oversold. Not to say it wont be further oversold for the concerns I still have relating to forces of Nature ..... both cosmic and climatic.

I am keenly but patiently waiting to tick off the major concerns and looking for whatever low comes about to load up.

IMO it really doesnt matter to the overall scheme of thing if oxides plant never produces, so long as the sulphides JV is concluded, cos the eventual numbers in this resources boom are very big. Tho I have no doubt oxides will produce soon enough and cashflows will be big even tho we may have a higher depreciation component cos of over-runs and hence lower initial divvies first coupla years. But dont expect that will affect the sulphides or uranium projects which is what the long term investors are in this for.

Gotta say tho, one further new concern is now the Shanghai index hitting 6000 and their local gurus calling it up to 8000 by end THIS year ! Maybe we should be looking to Shangahi instead of New York for the GORM drivers to appear haha.

Then again one can argue the tech wreck shouldave by all accounts happened in 1998 instead of moving multiples further before it did.

Bottomline I am a firm believer in the good health of resources superboom for another 7 years or so and a U-third kicking in some time next year and that has to be a major driver for CMR's re-emergence once its own "third" confirm-kick-starts. Yeah its all in the timing.

Or maybe the real reason for this fiasco is Zeus reminding us that mortals are nothing without their Gods haha. If his statue had been erected in the first place, maybe he wouldnt have found a need to punish us like this haha (tongue in cheek of course).

Worse case IMO is that any one of about 5 likely majors will bid 650 - 800 to move us out of the equation if we cant handle it.

With that thought in mind I still hold a very large $$$ holding in the Jungle King expecting / hoping our woes are only temporary and we will soon be flooded off the sand bar by the coming monsoonal rains haha ...... oh too much ! Forgive me.

If only this was an ideal world. (There would be no challenge ...... boring)

Lotsa activity around a very tight range. Feels like a s/t pinch and one might expect a sharp move one way or another soon between the marker buoys. Which way ?

IMBOOC