q low enough for u now cat, page-27

I don't see any "malicious downrampers grinning" on this thread, just some who look at the chart and see an ugly downtrend or others concerned with a few FA issues that seem brushed under the carpet. Even Sabre calls the chart how he sees it with some sense of humour and CMR can't feel special there, he damn well talks down half the ASX. What I do see are a lot of people hurting and looking for others to blame for bad choices or just BAD LUCK in the speccy resource game. If you can't stand the heat get out of the kitchen.

Is it really so surprising the price has crashed since around the quarterly? Cap Ex blow out agian, more delays, secured loan from director not prepared to risk going a con note, downgrade in size and more importantly grade of Sulphides resource, huge drop in size of Mt Fitch U resource, drop in grade of Mt Fitch oxides. Add to this a fall in metal prices and collapse of many mining stocks that have reported NOTHING WRONG and it puts CMR into perspective I think. Though you all would love to think so you're not really very special.

Here is something to all those who KNOW a bargain when they see it. To all those who KNOW downrampers with no idea but bitter intentions when they see one, spreading malicious rumours when CMR is obviously such a opportunity.
To all those who have picked the bottom 5 times this last week and are now covered with bear sht rather than bear blood by the looks.

A simple PEER comparison may clarify the situation, something OLY was a fan of during the bull market. This paraphrased from Panoramic presentation at D&D:

"current market capitalisation of around $370 million

You take off $120 in cash and the hedge book, which is $50 million ahead, leaves you with circa $200 million value on our assets, and means each asset is worth about $100 million each

Full year production at Savannah was 7579t nickel, 4072t copper and 409t cobalt, in line with forecasts.

At Lanfranchi, full year contained nickel production was 7304t, a 40% increase on 2006-07.

TOTAL YEARLY PRODUCTION 15kt Ni, 4Kt Cu and 0.5kt Ni

Panoramic has forecast a net profit for the year of $60 million." This company has no debt and no risk but has dropped from $6 to $2 in little over 2 months.

To own half of Panoramic market Equity Value, the equivalent of CMR owning HALF of Browns Oxides, costs about $100M. Except Oxides at BEST produces half as much Cu Eq metal, may not produce ANY profit and currently has a equity value of circa $200M with debt added back.

In summary CMR is precisely TWICE as expensive as PAN for half as much metal production, yet unproven if it can turn a profit. Of course CMR has sulphides upside if HNC hang around after the resource downgrade, balanced against PAN substantial resources and exploration upside (oh ... and no acid used in production there).

This is not a downramp but a eye-opener for the blinkered that the whole market has taken a hit and SHORT TERM value has been re-defined. Long termers shouldn't be watching the trading screen if they have the faith. CMR is a high risk stock and people just don't have the stomach for risk ATM and are heading for the exits.

This part of a bear market is not easy and each has to make their own calls depending on personal money management and pain threshold. There could be games going on or it could be just general capitulation, only time will tell.

Sorry for the different perspective, you can all start bagging me now.

goodluck, seriously.