ValuationThere is little doubt that CMK valuation has been discounted for risk - risk that they would need major dilution to acheive commercilization or worse yet, unable to tap the markets for money should they need to during a down turn.
These risks have been greatly reduced this week with an instant infusion of $40M and a larger LOC in place without major dilution. What the final evaluation will be will be decided by the market in coming week(s). Let's hope sentiment is good.
As far as I am concerned, they can dispose of any non-core assets to get this mine humm'n and maybe push the plan to 6mmt/yr for 2013... without dilution. That would be sweeeet!