my few thoughts14 Feb 2006 12:40
EUM - another Kazak mining company, as of course is CER (qv) .... from what I can see, from a very brief look, is that this company does not currently have any decent cashflow, so is totally dependent on the faith and goodwill of its bankers ..... it may well be that in due course this Kazak project will be a real moneyspinner, but that seems to be quite a way off.
Meanwhile, commodity prices look to be slackening at least for the moment, and interest and enthusiasm for these sectors generally falling away, except in "special" cases .... while this of no direct concern to EUM, it will inevitably impact their sp.
In conclusion, it is not a share I would rush out to buy.