Malay, 100% agree, I have been calling this for many months. The current pull-back from its high was due to the softening in base metal prices; not the fundamentals of the company. Very cheap on the Zn Pb Ag. My comments on this thread are solely tilted at the suggestion that cash holdings will not be used for creating share holder value. I think you, I and a few others know better. IF they can get Cu into the mix from a diversified mining operation a few more analysts will start taking note.
In summary
They have de risked the BH operation, proving that it is profitable with plenty of leverage to the upside.
The hedge book further de risks cash flows for the current half. The recent lead hedging is well in the money.
Whether the new funds are deployed to develop the higher Ag deposits at BH or directed at MT Oxide it should be positive for the medium term.
Cream!! Imagine if they can fund both. I would like to see Aditya Birla take Mt Gordan off C&M as I think a deal could be done which would assist the Mt Oxide FS. Pure speculation and more research is required here.
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Malay, 100% agree, I have been calling this for many months. The...
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