While about a week old now the following report from MiningNews.dot is further indication of positive sentiment returning for CMR. I have read many reports such as this now which is a far cry from what I was reading several weeks ago. CMR is now well positioned to supply a resource hungry world.
All the ducks are lining up and swimming in the right direction...
Lets make such they remain proud Aussie Ducks and not Peking Duck... ---------------------------------------------------------- Ref: MiningNews.dot
Browns buoys Compass
Wednesday, 17 September 2008
SHARES in Compass Resources soared 27% in morning trading following news of a significant processing milestone at the company’s Browns oxide plant.
Despite earlier cost blowouts, Sydney-based Compass announced copper electro-winning had begun at the oxide plant with first copper cathode production expected “in the coming days”. Nickel and cobalt production will follow.
As well as the cost issues, the need to address various safety-related compliance requirements had hampered the project, pushing back the circuit commissioning date.
However Compass said things were running smoothly with the signing of a major sales contract another feather in the company’s cap.
Compass has signed a three-year off-take agreement with Sempra Metals and Concentrates with the first sale of copper cathode expected next month.
Compass stocks rose 14.5c or 27% to 67.5c before easing to 64c. ----------------------------------------------------------
CMR Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
