i think today's fall is an over-reaction to the 'drop' in resource and the pending cap raising.
All CCU has done is reviewed it 57m ozs silver to say 47m ozs are 'economically minable', thats means almost 80%. They have just adjusted the cut-off grade that would make the project viable. As more resources are added, there is a strong chance that the 'economic resource' will also increase provided that the grade is above cut-off.
Like i said in Jan, im waiting for the cap raising which should be around 13-15c. Im hoping to pickup a few around the 12c mark. This resource is still a massive find.
Cheers
CCU Price at posting:
16.5¢ Sentiment: LT Buy Disclosure: Not Held
