No clouds, but a silver lining

摘要

During the past 20 months New South Wales base metals miner CBH Resources Ltd has established the kind of track record which would make most mineral resource proponents green with envy. And its corporate expansion is expected to continue on the coat tails of a multi-million dollar silver deal it made earlier this quarter. During April CBH announced it would sell 17.7 million ounces of the precious metal sourced from its Endeavor project in central NSW to the US-based Coeur d'Alene Mines Corporation for 50 million dollars. Some of the monies will be used to fund a number of growth projects, including the planned 25 million dollars deepening of the operation's shaft as well as the establishment of a 1.5 million dollars copper circuit. Since re-establishing the former Elura operation (after buying the assets from the now gone Pasminco Ltd), CBH has successfully generated a cash flow of around 145 million dollars per annum.