CHN chart, page-5365

I'm pasting a paragraph from the Bell Potter report that came out on Sept 1 - the one which values the stock at $7.10 and which suggests this current weakness is a buying opportunity. This point seems to be the main thrust of Alex Dorsch's response that came out in his interview with The Hole Truth. The point being that the focus (re the SS) should be on the low amortized operating cost of the mine, not the commodity prices.

"The salient point here, however, is that the project does not kick off for another 6 years and realistically no-one has any idea what commodity prices will be at that time, or indeed what they will be through the life of the project. With an initial mine life of ~20 years, Gonneville will operate through many price cycles, low and high. Therefore, being at the bottom of the cost curve is what secures returns over a project’s lifetime and this is a major strategic attribute of Gonneville. Investment decisions on big CAPEX, multi-generational assets are not made based on spot commodity prices.