I dont want to go overboard on this but if you stress test at $2.50 and the reserves remain "economical" doesnt that mean that at $2.50 there is a profit (at some rate of return that has general acceptability for the industry) in that figure ? You dont go into a business to break even- what would be the point. If an "economical" gas price is $2.50 doesnt that mean the cash cost could be ,say,$2. Could CC be one of the lowest cash cost producers in the US?? !!! I havent seen a cash cost for a US producer at that level. Anybody seen figures in the 2s? or lower?? Maybe CC really is "a jewel".
MAE Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held