RE:Future looking bright...they keep Killin itReally good quarter especially considering they were down for ~5 days or more due to the wild fires in June. They would have beat estimates big time if that didn't happen. I like the operations momentum at Pinto Valley - see how they are now getting 87% recoveries and lower overall mining costs. They made a few operations management changes and a new set of eyes has delivered for the second quarter in a row.
I like the NAV growth here at CS because i think that Santo Domingo (which is one of very few shovel ready permitted copper projects in the world) will be sold for WAY higher than the street thinks. The NPV of this project is over $1B and it wouldn't surprise me to see them get more than their current market cap in cash for it. I hope they give some colour on this in today's conference call. The PV4 expansion project to make Pinto Valley 25 to 75% larger will no doubt come with a NAV boost. This is what the company should spend capex on (a lower risk expansion project versus building Santo Domingo so I'm glad they are contemplating selling SD). The Cozamin expansion + doubling of mine life will come with a NAV boost.
And even without the NAV growth I talk to above, the company trades at 0.3x current consensus NAV. By far the best value copper producer that I can find anywhere.
GuyMining