Personally if I had any say I would seriously evaluate the efficacies (if any) of letting HNC take over the sulphides project evolution with their own imported team to suit their smelters' needs.
We retain 50% no matter what but might evolve faster, given the speed the Chinese are now accustomed to in setting up mega-construction projects. Doubt they would have any skilled labour deficiencies as we seem to have. Doubt tho our unions would appreciate that idea.
Would normally "haha" at the end of that thought but considering the expanding black hole in my pocket .....
Anyway, Q report reads like HNC are satisfied with sulphides project and sure must be laughing at how cheaply they are let into oxides, so lets see what next. Easy to say in retro tho, like share trading.
Wonder when HNC will be looking to sell that remaining 6 mill shares? That previous decision at 410 would have earned brownie points for their CFO even tho we ridiculed it at the time.
Wouldnt be surprised if we saw further selling pressure across the board now from increasing US insto liquidations as the global slime spreads. More casualties emerging every day in the US and they havent YET fully disclosed according to the new rules. How do you begin to value balance sheet "financial assets" now? The re-insurers are copping it sweet atm. Wait til banks start shutting their doors. Not that long ago we had a Savings and Loans crisis in the US, anyone remember? Remember the liquidity crunch here in the early 1990s which led to 18% mortgage rates for a while? Lotsa lessons to be studied by the newbies to this game but history is usually ignored.
FEB will also see our local instos start their own disclosures. Regulators should impose similar disclosure rules here instead of burying their heads in the sand with the emerging realities of the New World around them. CBA report coming up should be an eye-opener(?)
U have my TIME targets on record to test the theories. Hope Olympian cadets are taking note ... this is priceless education unfolding before our eyes.
Overall satisfying Q report for mine all things considered ... tho begs a few new q's re Mt Fitch U. Just take a look at the cash possie shown and consider we are nearing start-up with finance arrangements CAPPED by C-notes converting at > 4 bucks. Thats an ENVIOUS position to be in cf to MOST emerging aspirants who may flounder in this expanding western liquidity crisis.
Play it safe and wise so we can resume our partying together again and hopefully soon. Better light the incense in praise of Zeus .... and the cosmic smoke too haha. Gotta get some sleep tonite for a change.
IMBOOC
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
