Can anyone tell me or make a case for selling ccu?? I will be honest I am a substantial holder in ccu but here are my reasons for holding or buying.
1. the mine has a 2 yr payback - ok based on $33 oz for silver but costs ( yet to be 100% confirmed were estimated at from memory about $10 oz and that was on the high side)
2. Infrastructure all done, ore now mined, ore now treated and a commitment from ccu that production would be 4-12 weeks again from memory about 3 or so weeks ago.
3. directors/sophisticated investors bought shares in a placement at prices much higher than todays price
4. silver was hedged on 30% of production at $33 from memory so latest dip in silver is not all bad news
5 CBA who facilitated the loan after the european bank/financier fell through wanted the loan guaranteed and backed by this 30% hedge which says they believe ccu has the silver it predicts.
6. If first draw down in the payment of the loan to CBA is in december, production should be soon and ramped up quickly to honour the bank commitment.
7. Mr lawrence and others who have all their money tied up are not about to see this collapse on the back of meeting production targets, bearing in mind that CBA believes the silver is there (they would have had assesors), and first ore is being treated now.
I am surprised interest in ccu is not ramping up..
Am I missing something??
Can anyone tell me or make a case for selling ccu?? I will be...
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