CYM 2.63% 3.7¢ cyprium metals limited

I have never doubted the upside of this project Nirogeon. How...

  1. 1,461 Posts.
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    I have never doubted the upside of this project Nirogeon. How many low capex near term copper project are out there?

    But the several broken promises and timelines have eroded investor trust causing a pretty consistent slide in the share price and that has had a major impact on dilution which is much, much higher then nessecary on a project like this. Had Barry been way more conservative on his promisis, particularly on time lines and executed on time I don't think we would be looking at what 1.3 to 1.4 billion shares (after the options have been converted).

    And again. We still don't have the debt finance locked in. I would have felt different if this was 100% tied into that. But who is to say there won't be another "equity component" 3 or 6 months down the line?

    There is only so much money you can make out of a 25Kt per annum mine...And that will now be spread out much more.

    Is there more upside from the other projects? Sure. Is CYM likely to produce 100kt per annum anytime in the next decade? Probably not.

    If I could do it over I would have a look at CYM after all finance is secured. Apart from a few lucky holders that bought at or quite close to the bottom, many current holders will only mediocre gains assuming CYM will be successful.

    Wasn't worth the risk really.


 
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Last
3.7¢
Change
-0.001(2.63%)
Mkt cap ! $56.46M
Open High Low Value Volume
3.6¢ 3.9¢ 3.6¢ $51.12K 1.375M

Buyers (Bids)

No. Vol. Price($)
3 635818 3.7¢
 

Sellers (Offers)

Price($) Vol. No.
3.8¢ 165316 2
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Last trade - 16.10pm 19/07/2024 (20 minute delay) ?
CYM (ASX) Chart
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