CYM very resilient today, at one stage we were square whereas most copper stocks are down trending since start of trading.
Negatives in the short term:
1. Inflation appears to be concerning central bankers encouraging a view that stimulus may begin to end.
My opinion: This narrative has been in the market for the last 9 months and we have seen 0 evidence that stimulus is ending anywhere.
2. US Govt Debt argument. I think after almost 10 years of this debate about will debt ceiling be lifted only to be lifted in last 5 minutes every time is sort of boring. Same old game on brinkmanship just with democrats being the let us do it and Republicans no you can not.
3. Oil Price higher. Ironically Oil and Copper are typically the bellwethers of are economies doing well. Both should in a normal market be highly correlated.
4. Delays - I expect this will happen as has happened due to COVID and dumb state / federal government policy on the run in Australia.
Positives in short to medium term.
1. Copper results at nifty demonstrating the project has life and will more likely than not happen.
2. Funding - Barry has frequently stated has numerous offers to finance. Hoping Barry goes down path of debt / bonds as was originally spoken about historically. One of the key draw cards for me with CYM is the fact that we do not need to be diluted.
3. Financial Study into feasibility of nifty.
4. No other new copper projects likely / CYM has more than 1 million tones of copper resource. Like gold miners 1 million tones of resource is the critical line in the sand between a small player and a major player. Historically this was the critical number that majors would look at before taking a tilt to acquire another company. Same as ARB (forget code - Brazil copper player) and Finders being taken over. They were the only 2 juniors on the ASX that had 1 million+ tones of copper resource.
CYM has this.
No other copper projects are likely as to do a greenfield project and get the materials / equipment etc just does not and can not happen anymore. I expect to see no new mines in any commodity in the next 3 years minimum.
CYM works as it is a brownfield project with all critical infrastructure and power in place. Not waiting for anything.
I think chin up all. This will happen. My view is this goes 6x as have many other investments I have held that have had worst management teams than CYM. I really like the money invested by CYM management team and its quality and are key factors in my mind for why this project will do very well for us all.
CYM Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
