Has anyone seen any recent broker reports - ie Oct 07 onwards, apart from Huntleys. Would like to get my hands on a recent one, apart from Huntleys. I hate when companies stop putting them on their website when thinks start going bad. They stopped posting them on CMR site since Aug 07.
I am also a disappointed holder but will hang in there, just too much value in the ground to ignore despite the incompentencies. Even without the resource upgrages the in ground value (and hopefully one day out of ground) just keeps increasing. With Cobalt prices going through the roof they need to extract with haste. Based on my calcs if you increase Huntleys valuation for Cobalt from $15US/lb to $25lb their valuation would increase by another $2.60 at the 10% NPV and the 100% sulphides (not the discounted 50% that Huntleys use). With Cobalt currently at $45lb and demand growing and supply issues, who knows $25/lb long term may be sustainable. Given HNC desperatley want the Cobalt they must be itching to stump up the capital for the Sulphide project to get their hands on resources. Obviously also increases the IRR for them as well and makes investment decision more compelling. There is a risk that HNC decide not to proceed with Sulphide project for whatever reason after feasibility study. One of these reasons could be competence of CMR. However when you see value increasing weekly this must go along way to migating that risk. Ignoring upgrades looks like just have to be patient until May or later.
CMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
