Amazing buying opportunity yesterday. To the non-holding downrampers;If you didn't get set below $3 yesterday you've missed a gift.
Why?
We're around 2 months out from our ML being issued imo.
We know the likely grades.....say 2% to 2.5% for the first 4 to 5 years as a minimum. See metallurgy. We know the costs, & strip ratio...they were put out ages ago. We know that pyrite and cobalt credits will virtually make a free carry of the copper and gold We know that a mining plant and site preparation should be no more than $150 mill (about $50M for the plant itself), and that we basically have our big diggers and rolling stock all ready to go. We know that copper prices are likely to be even better than they are now. We have someone who will take all of our product. We know that we have avoided the diversion of Morris Creek in the EIS which would have caused a cost blow out. We know that the company won't have any debt. We know that 190 mill shares max should be about it. We know that the township of Cloncurry is firmly behind the project...and why wouldn't they be. We know that OW are a longterm cornerstone partner and will provide any funds if needed. We know that we will have value adding from our rail hub and our Port Facility. We know that markets will recover and good companies will be firnmly supported, especially if they have solid dividend streams. We also know there's a major exploration upside with constant developments occuring on that front also.
Yep sub $3 yesterday was a gift.
CDU Price at posting:
$3.09 Sentiment: ST Buy Disclosure: Held
