Currently selling coming from:
1) Instos cleaning out their losers for the end of FY
2) Retail investors cleaning out to claim tax losses
3) TIR s'holders accepting bid & then selling their CSM scrip
Can't see any of this continuing much past tomorrow as 80% of TIR shares are now in CSM's hands.
Nickel price keeps on advancing & they're selling half of their output at spot prices.
Directors estimated $85mil trading profit after tax for 06/07FY a couple of months ago based on a nickel price of $US6/lb whereas it's now $US9.50/lb.
Must be a recovery stock.
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CSM
cosmo gold limited
best of tax loss casualties
Currently unlisted. Proposed listing date: TBA
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