Execution is key......price is right!I haven't posted in a while as I have a day job in the Tech industry, as I have mentioned many times. We are all aware of the credit issues in the EU, and grid lock in the USA so enough said on this issue, life go's on and longer term holders will be rewarded.............6-7 down days in a row does suck though.
Anyway, I just wanted to give a little feedback as my largest vendor has a huge factory in China. First, based on our factory we have so much back log we cannot get all the products we need, business is booming.....I have heard from our head office that it is custom that many employees have already started to take time off and go back to their home land to family early before the China New year. Also, if you are not aware China pretty much shuts down in Jan for CNY.
That said, there is already a lot of news out there saying China is slowing down.....ridicoulous IMO......as it's just the usual cycle based on their culture and pattern of business...i,e CNY and leading up to it. My thoughts come mid-Feb, we go crazy again as China will be booming after CNY ends and everyone is back to work trying to catch-up from the back logs as NA never sleeps..............
IMO with all the bad news in the market baked in....this is a good opportunity at these levels to add gradually to positions after the 7-8th down day. I have said in the past CMK is on track to be a large producer but they annouced to soon last Dec and put a lot of pressure on the stock as a result this year.....they should have said still in start-up (not production)but hey...going well........that said we are 1 x year behind what we all thought were to be the results, but close to getting all 5 x Supersections completed.....finally!!
Just a note for new board members, CMK does have over $100,000,000 million cash in the bank, and a unused $50,000,000 million CL, and a lot of the miners and equipement have already been purchased...but not all. So with no debt and 208 million shares outstanding....$.50 cents share price in cash you get the whole faciliaty, all the equipment (new) and a huge start-up mine with millions of reserves for the other $1.20 or 250 million......what a steel IMO.....actually crazy cheap. Awaiting some results for the blue seam and we are off to the races................
Do your own DD always...............
Cheers,
Cooper!