CMR (ASX) lead is poised to plummet on xstrata output

Originally posted by igoitz ↑

igoitz (or is it "I got tits")

Now bear in mind, I been at the pub .... yeah I know .....again! you say... lol

But I only offer that disclaimer to suggest there is of course room for me to be wrong. But you asked what effect a Pb fall could have on CMR.

Now while there seems to be a gazillion definitions of what constitutes a "ton" as mentioned in the Bloomberg article - "Lead will drop to $2,122 a ton in the fourth quarter and average $1,875 in 2008" ....Ill use 2000 lbs as about equal to a ton. (if anyone can tell me what a ton in miner speak means in lbs terns I am all ears)

Bloomberg suggest PB could fall to and average of $1875 per ton Bloomberg suggest lead could fall to an average in 2008 - to my ready reckoner a ton equates to about 2000lbs - that equates to about +- .93c/lbs -

I think you will find Huntleys have done thier calc's on long term average price of lead at .41c lbs - now I may be wrong an will happily stand corrected if way out - if close will also happily take note of what a lb and a ton as quoted by Huntleys and others really converts to - but it appears to me that despite Huntley's valuing us as a buy up to $7.40 and hold to $9.65 (without any of the expected upgrades to come) that value seems to be based amongst other things - on a lead price of about .41c lb - yet Bloomberg forecast a catastophic event that will see Pb prices fall to .93c/lb .... more than double that which Huntleys have used as their long term Pb price -

Again, I been at the pub - am pizzed - can't add up well even when sober so may have my calc's out big time - may have used wrong figures or the wrong converter to convert tons to pounds - but if close to right it seems huntleys have used long term lead prices WELL below that which bloomberg suggest we it may plummet to.

- if I am wrong - please tell me, coz i have a goodly amount of money in this stock so am happy to reconsider my position if appropriate - but with the info I have at hand it seems the proposed plummet ought not adversly impact on our fundamental position which is already grossly understated????