DRT:
I completely agree. This is a major accomplishment. What really
gets my attention is a company that makes steady progress along the
road of attainment of goals. First there is the gold mine in
Zimbawe (Connemara) which is now in production!
Second, the Bwana Mkubwa copper and sulfuric acid plant in Zambia
is now in production, and will result in cash flow for the company!
It is clear that with the ability to carry projects to feasibiltiy
and then to production, this company has impressed Congo leadership,
and the acquisition of these 4 tailings is moving this company
a major step forward. Even if copper prices fall off to say
50c a pound, with costs in the .33 range, they will continue to
make money. A large part of the value in these projects is in the
cobalt, however, and the projected earnings are attributable
especially to that metal. As far as the stock, if you notice, in
spite of the abysmal performance of most resource stocks last year,
with drops of 85 % not unusual, this one did not correct very much
from its highs.
Firsts Quantum will continue to progress and I intend to hang around
for the ride. A super company, imo. Of course, the country risks
cannot be ignored.
Regards
Dan |
