Well copper as we all know is going on a tear. $US4.78 per lb, Up 5% today on the realisation that global inventory is low.
A good time to be developing an operating mine despite rising input costs.
20,000 tonnes p.a from Nifty is $40million bottom line per year at $1 per lb profit. Now if these guys can't pull it out the ground and ship it at $3.78 all in cost I'd be very surprised.
What if they pull out 40,000 tonnes at $2 profit per lb. That's $160million profit per annum - not inconceivable, and it has been suggested they can pull 60,000 tonnes per year.
For me CYM is a very attractive proposition at these elevated copper prices, the million dollar question of course will these prices be sustained through 22/23 and beyond, if I knew the answer to that then.....I wouldn't be wasting time posting on here.
CYM Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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