I'm still very confident in where CYM will be in 12 months time.
Despite copper sitting at USD $3.53/lb on the LME, the project will still generate ~$57m+ in profits per year once operational.
And if we're going off Shangai futures, where copper cathode is still trading at AUD $13,006/mt, CYM stands to profit $99.1m per year.
Should the economy recover over the coming 12 months, this figure could easily double - so there is still tremendous upside and a massive return on investment to be had.
In the short term - there's not anything meaningful to speculate on. I'm in this for the long haul - dividends from the targeted annual production of 100kt to 120kt per annum will make me a very happy investor.
CYM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
