Hi Brendan Correct me if I am wrong but Perilya owns the best part of Broken hill and most likely is worth 2 or 3 times minium of the CBH resources tenement.Bad hedging loss of $49.7million explains Perilya poor half year performance but what explains CBH 8.5 million profit.CBH H/Y financial report has the same page that has a expansion increase of 30% milling you will notice near the bottom it says this will allow the mine(Endeavor) to increase output to 1.3mtpa in the second half of the calender year.Cbh I think in the short term is going to find it hard to make a big profit.And hopefully Perilya's hedgebook now is at approx $21.6m out of money down from $105.1m(31/6/07)will see the end to Perilya's bad hedge losses I hope.Rasp mine needs $65million spending on the project to become operational.I think the price for the mine/tenements at Broken Hill would be in the range of 60to100milion.This is only my opinion and is not a personal attack.Bye Hoogle
PEM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
