Huntleys today
"Compass Resources’ (CMR) has lost its lustre – we think temporarily. Its first attempt to
become a producer was delayed, and reflected in a near halving of the share price. The company has broadened its management ranks, hopefully to good effect. New mining projects frequently suffer false-starts, and
subsequently move onto success – production requires different skillsets from exploration. CMR’s very valuable orebody hasn’t
gone walkabout. On the contrary, significant drilling – 12,000m in this quarter alone – is likely to add considerably to the resource
estimate. And Chinese joint venture partner and bankroller, Hunan, is equally unmoved, recently approving CMR’s 2008 feasibility
study programme and budget for the Sulphide project. Hunan is funding the project to earn a 50% interest. CMR is in the sin-bin but
that’s only a temporary disqualification."
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Huntleys today"Compass Resources’ (CMR) has lost its lustre – we...
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