Yeah I have communicated with the company several times and they will not disclose the price they obtain for magnesium sales.
Also Captain4444 you should understand that the price sold within China is completely different to the one sold outside China. If you rely on broker reports then you have a problem with your investing style imo.
All other miming related companies will tell you in their quarterly what the average sp is per tonne sold of copper, zinc, tin, iron ore or whatever. They will also provide some sort of commentary about the quarter and what lays ahead. All we are told is "on time and on budget" in a preso every now and then.
To date there has been no offtake agreements signed.
Also, if you have done your research, you would know that not one Australian magnesium company has ever been successful in the history of Australia. They have all gone broke because they couldn't compete with Chinese companies.
CMC is of course different because it is located in China, listed in Australia and run by a New Zealander who has had no previous experience in magnesium production although he has Chinese partners who have small scale piecemeal experience.
The numbers look compelling on the broker reports I just need the numbers confirmed. Once the magnesium sp is confirmed then CMC is a no brainer. The management have not been able to do that for the last 6 months.
CMC Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held