Since I now indirectly hold a "not so tiny little number" of CNB shares via HMX, I think I will also briefly share my view on a possible further development.
In short: I think there is a good chance that the price of copper will continue to rise. We are currently at an important resistance level. If we go through it, we will end up somewhere between USD 4.20 and 4.35/lb.
I think CNB has broken the downtrend, nice backtest (not quite completed yet). Scoping study on the way. Probably in May. Could move the SP towards 80-90 cents in a first step. Later in the year and with a good tailwind from the CU front, I think we will hover around A$ 1.20-1.30.
So I'm pretty optimistic that we'll see a higher CNB SP over the next few months (Not surprisingly, I am also positive about the development of HMX).
PS. I was about to buy some CNB shares - but after yesterday's announcement it was no longer necessary. And as usual: DYOR
Since I now indirectly hold a "not so tiny little number" of CNB...
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