Recently a company listed in HK, they are a single W mine based in KZ. Good location, close to Almaty, has water, very cheap labor, will have cheap electricity. Sensible strategy by CN to secure adjacent and accessible W, and export the low skill low wage jobs to KZ (who will in turn use Uzbeks and others who will work for even less), and export the health risks etc.
Resource is about 2x Carbine, and claim they are just cash flow positive from an operating perspective. They very heavily geared and this will likely be rolled fully into RMB at relatively low rates.
The recent IPO market cap is 34bn (USD), for an operating making less than 50mn usd annually in cash flow.
Really makes you wonder what is going on with EQ R's price.
Having spent a few months in KZ this and last year, the west is completely overlooking KZ, KZ is like a second Australia in terms of mineral wealth, and it shares a land border with China...
--
Surprised our resident Finnish W expert hasn't been harping on this - will allow them to do further digging as it is time to go outside and touch grass.
Cheers
EQR Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)