CMC
a quick summary...
-China-based magnesium producer.
-SP (25c) Mcap ~$30m.
-Ex-MHM director buying big
-Three phase expansion to 105,000tpa.
-First phase completed by Jan 2012 (20,000tpa)
-$800 per tonne operating margin
-Preferred Project status in china
-China based management ticking all boxes
-Agreements to sell product to local companies
-Top 20 hold 64%
-Recent placement at significant premium
-Set to be world 2nd largest Mg production plant
-Acquisition of ferrosilican producer - crazy cheap
-Target price $1.04 @ 20,000tpa. ??? @ 105,000tpa
one (1) must have stock for 2012, page-37
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