At spot prices gross cashflow CMR's part looks like being around 4+ mill / mth (my back of envelope) for the oxides starter producer(?)
Wont know opex until 3+ months at rated capacities etc ..... but that sulphuric acid component would sure have come down big time since 2ic's "alert"
Who knows, if AUD stays weak we might see 2 mill / mth EBITDA at full rated production calendar 2009 CMR's portion ????
Oxides starter plant of course ... thats all the market is rating us at.
What about the 85 mill bucks valuation last year for CMR's wholly owned "other" stuff outside the RJMF ? Theres 2+ mill ozs gold in that kitty plus some royalty from ALK if they get their act together ..... up to 3 mill pa ?
OK I forgot, that 220 mill capex plant aint worth a zac cos its a dud says the market. Maybe we should mothball the RJMF and TOLL-treat OPs haha ...
If it wasnt so pathetic it would be a grand joke .....
Oh well, gotta few more piggy banks to break I guess.
CASH is certainly king right now tho as lotsa babies are going out with the bathwater as the Greater Depression takes hold. Market usually leads the economy and nails the lows about a year ahead historically. Lotsa paper floating around and increasingly so from here too to consider .....
DJ futures up 200 atm tho that doesnt mean much these days ..... but well over 1000 points above that Friday's intraday low for the cosmic anniversary ..... C-4 rally might be warming (?)
Yet CMR now in the 20s ....
The financial Matrix is smoke and mirrors bros (IMO) but perception is what drives current markets .... and broader debt burdens ....
I'll stick with resources.
IMBOOC
PS I expect broader markets to see 1993-4 lows for end of megabear C over next year or so(?) Love to see CMR back to 1994 prices ...... hit 2 bucks then haha. ING latest global bank to hold its hand out for a baleout(?) Hey maybe CMR can hold out its hand for one too haha ... what happened to that "future fund"? Watch the politicos waste that on the banks as the stronger RMB is used to buy out the rest of Oz. China GDP came in at 9.9% today's report. Wonder what HNC are thinking of re concentrates only sulphides alternative ?
CMR Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
