CMR Compass Resources

[Packersoldkidney]

Got a leg up recently because of Huntleys - when the spotlight spotlights else where maybe worth having a look. Got their fingers in a few pies - iron ore and gold among them. Worth a look as some think these blokes and their company are undervalued.

[OneUp]

Thanks for that POK. After your post I checked out a valuation report for CMR at http://www.mpsecurities.com.au/pubs/...date_Jan05.pdf . The numbers seem a little incredible. However, if anything like accurate, CMR would indeed appear to be attractive for purchase.

[Packersoldkidney]

Rupert: I'm in. Let's hope it doesn't go the same way as Unwired, though. (!)

[Cooper]

Some good reading guys, something to do over the weekend. Cheers for the efforts.

[mercury]

so why is it sleeping?
Merc

[Mick100]

They have not done a BFS (bankable feasability study) as yet. Most of the metals are contained in the suphide resource which is very difficult to extract the metals from. Extracting the metals from the sulphide resource is very complex and will require a totally differint plant to that used on the oxide resource. The cost of this plant is estimated to be around $250m.

I'm going to watch this one and see if they can increase their oxide resource, through the future drilling program, which would make it alot more attractive than it is currently.


Mick



PS, thanks for bringing this one to my attention Packers

[Packersoldkidney]

No problem, Mick. Hope it goes places.

[OneUp]

Any thoughts on the geological risk factors that might prevent the oxide resource being developed?

[Halebop]

quote:Originally posted by rupert

Sorry Guys cant get the links to work[xx(]

Announcements

[David Hardman]

Poor old Compass made for a southly direction today.. Down 10%

Looks like support at 30.. If breaks that then look out below.

Disc - I picked up a few last week :-\