CML 5.00% 1.9¢ chase mining corporation limited

impact of wow/ ctx deal

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    I have just completed my initial assessment of the impact of the WOW/CTX deal on CML. There is bad news for CML holders.

    Based on the technical analysis and backed up by fundamental analysis, there should be a significant short to medium term affect on the CML price.

    My first downside target is a close below 7.28 followed by a step fall to 7.00.

    Citigroup Smith Barney put out a detailed assessment of CML and WOW back on 17 June 2003. This makes interesting reading in light of yesterday's announcement. Unfortunately I cannot reproduce the report - its a 15 page pdf file. I recommend people read it before acting.

    Right now I'd rather be in WOW's shoes than in CML's.

    Just my opinion.
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