I just dont quite see them as a spec, they are generating cash and debt free with cash in bank and a fairly healthy pile of yet to be invoiced copper etc. Not to mention the large stake in Mungana and Admiral bay.
I would call CSE a spec, no cash and no income, and a very marginal deposit.
This sell off smells of absolute panic, i prefer to take a leaf from Buffet and buy while there is blood in the streets. Im sure some of the selling will be due to repatriating some Japanese cash.
At the end of the day i think China will still keep growing and japan will eventually have to rebuild, regardless of what happens at the reactors. They still need to re house those displaced people and they all need the cars, fridges, TVs etc that were washed away. It may be a bumpy ride for a while but having a pair of steel balls may pay off handsomely.
KZL Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
