hunan happy they didnt hedge, page-5

The price of sulfuric acid next year hardly matters anymore, the plant probably won't be operating to use it.

What you should be worrying about is the price of cobalt, still the elephant in the room no-one wants to talk about. I don't have a subscription to metal-pages website but the headlines tell me all I need to know:

23 Oct: Smaller Cobalt Producers Halt Operations Amongst Weak Demand.

21 Oct: Cobalt Oxolate price down in China

20 Oct: Cobalt Chloride prices fall in China etc

All the metals are slumping, not just the LME traded. If you understood the concept "in-elasticic supply" for by-product materials you would understand just how low the Cobalt price can go in a reverse of the squeeze that sent it to USD$50/Lb.

As Oly always said, timing is everything. HNC have all the time in the world to finish DFS and decide on their next course of action. Time to see the con-notes converted, register diluted and CMR share price on the mat for a 10 count (only on it's kness ATM). The Sulphides is a project for the next boom, not the paper burn Zim style boom but the next demand push growth cycle, and current shareholders wont see much of the upside IMO.

CMR will be a buy for those with patience when the Oxides has closed, the notes converted, debt removed and share price trashed by dissolutioned and disgusted shareholders. Browns is somewhat of a magic pudding for GT. He sells off large slices during the boom, buys it all back for a pittance and waits to do it again next cycle. I'll definitely be following his moves next time.

goodluck