Hi Butcherbird, you mentioned "current margins" . Do you know what the current margins are and/or the price of magnesium in China at the moment ?
The sp is well supported in the low 30's by longer term thinkers. This will tighten up the register even more than it is.
As you say, there is no cap raising. Everything is on target. Offtake agreements are required to go to the next stage of the plants development. This will also be required by the banks who have already expressed intent to lend what is needed on top of any equity invested by CMC.
Offtake agreements should be reported this quarter along with the finalisation of the 20k tonne p.a. plant.
Time is running out to pick up cheap stock here. After the weekend I expect the beginning of a rerating.
CMC Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
