With Copper Zinc & Silver all headed towards the sky if this stock does not get a move on up another may chomp it up, we know already that CSM & OXR are looking @ it, CSM 33% holder, OXR needs offtake ore to blend @ golden grove, but @ these levels its so cheap we may see another bid from the side,
Anyway here's a CSM related article
CONSOLIDATED MINERALS LTD (ASX: CSM) – ASX OPEN BRIEFING
Date of lodgement: 10-May-2006
Title: Open Briefing ®. Cons Minerals. Strategy Update
Record of interview:
corporatefile.com.au
Consolidated Minerals Limited (CSM) recently announced some nickel production and exploration success. CSM is now a diversified mining company and you are taking over as Managing Director from Michael Kiernan from 1 July 2006. Where do you expect CSM to benefit from your leadership? Do you expect to introduce any significant changes in strategy? In broad terms, where do you expect the future growth focus to be?
Rod Baxter
Michael has very effectively put CSM on the map and provided a very sound foundation for our next growth phase. I see my role as driving the growth and diversification strategy he has put in place through what is essentially a two-point strategy. The first is to deliver against our production targets including introducing cost control and productivity efficiencies at our operations. I also want to maintain the very good exploration track record CSM has established. I’ll be able to draw on my experience at Anglo-American to achieve those objectives.
The second part of our strategy will be growth and diversification through our organic growth prospects as well as acquisition opportunities, to further grow and diversify our production base.
The future growth of CSM is our nickel and copper/zinc production. At the moment, about 70% of our revenue is from manganese and we want to reduce that to about 40% within a few years with the balance coming primarily from nickel and copper/zinc. We’re doing that for two reasons; because we want to grow the company and also to make sure that we’re not overly reliant on manganese.
My background with Anglo American involved a lot of business development work and I intend to maintain and encourage the entrepreneurial flair that has been so successful under Michael’s leadership. However, I want to bring a greater focus on decision making, due diligence and corporate governance and to introduce systems to reflect the fact that we are now an established, mid-cap mining company.
CSM holds nearly 33% in Jabiru Metals Limited which is developing its Jaguar Project (100%) 300 kilometres north of Kalgoorlie in Western Australia. The Jabiru share price has been very strong since January. Can you update progress and timing for the project?
Rod Baxter
Development of Jaguar started towards the end of last year and the box cut was completed by contractors at the end of March 2006. Jabiru is currently developing the decline which has progressed about 70 metres. In parallel, they are refurbishing the old Cadjebut mill to convert it to a concentrator, they have commenced site earthworks and completed the plant design. Everything is on track for dry commissioning of the concentrator by early 2007 and we expect first ore production by mid 2007 which meets the original plan.