At current prices there is no doubt that CMC represents value....

At current prices there is no doubt that CMC represents value. Including shares and options of 220 M, the market capitalisation at 6 cents is $13 M. Their current cash position of $2.3 M represents 1c per share.

Income (after costs) is currently $1.2 M per quarter. Providing this is sustainable, net operating cash flows should be around $4.8 M per year. Excluding growth. That's around 2 cents per share of after cost income per year.

Based on a P/E of 10 times the company should be trading at a market cap of $48 M… Or 21 cents per share.

Given that the company is just getting started, one could easily double this figure… I believe that the only thing holding this stock back from being 20-30 cents per share is the lack of information communicated to shareholders. I (and I am sure I speak for most on here) would have liked to have seen production figures released with the quarterly. But once again the Company leaves us guessing...