I'm personally starting to get a little worried about the share price. The Zn price seems to be getting continually hammered, any dollar strength or slowdown news (and they seem to alternate) results in the price dropping. This is CBH's bread and butter, the Pb price isn't performing spectacularly as well.
As for future predictions, what I *can* tell you is that the price will drop when they spin off Kimberly Metals in a few months time (pending approval at the meeting today). This could be of concern for anyone holding on margin, as I doubt you'll get any gearing on the new entity.
Most of the market recovery we're seeing is concentrated in the oversold banks (who may yet have a few surprises for us) recovering and the recent wrangling with the Chinese over steel prices (BHP/RIO, I'm looking at you). The smaller base resource companies seem to be sadly ignored, which is starting to shake my faith in them. Sometimes the market gets it wrong true, but for how much longer can you assume that *they* have it wrong?
IC
CBH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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