If you are a share holder I believe ( providing you are comfortable wiith the pros and cons of Cobar 's situation ) everyone if they can afford it should take up the offer , and if for anything it should be for one simple reason Not to give greater control to Magna .
If you think about it ,the company has a valuable resource that is there and will start to reap the benefits once the ball mill is in place. Even on current silver prices and the hedge prices in place , there is still profit there, based on there quarterly financials which stated that the next quarters anticipated expenditure will be $12.74m . Based on this projected expenditure figure if they are able to produce over 600 oz for the September quarter it will be at a cost of just $21 oz . Plus we have counted the Lead factor in this in any of the potential income.
Seek appropriate advice and good luck , I am certainly taking up the offer .
CCU Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
