The iron ore pricing settlement by BHP and RIO will serve as a strong influence on manganese and chromium pricing for CSM.
Given that CSM has lots of A$ hedging in place for three years out, the price increase should make for an absolute financial ripper in 2004/05.
This company already trades at a ridiculously low PE, and ridiculously high fully franked dividend (5.5%).
..and the price increase makes the Fortescue iron ore project look good, and the new JV with RDR look very interesting as well.
I would not be surprised to see CSM go higher, maybe much higher.
My opinion only, of course.
Cheers
Rosco
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CSM
cosmo gold limited
18%+ iron ore increase means big profits for csm
Currently unlisted. Proposed listing date: TBA
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