"none of us have a clue" Facts are severe downward chart since May - Director buying at around 80cents- Plant works and producing - sales income next month- Lots of selling lately with higher volume - Metal stocks on a roller coaster - CMR goes against trend Friday and Monday - CMR drops at a double the % yesterday of other spec mining stocks.
So what you might ask? My take is CMR is in limbo its moving from a spec stock to an investment stock as is FMG and there is a high degree of market uncertainty until sales confirm the investment and cover debts. It has now become a longer term holding and those that have held time with moderate losses are moving money to something with a shorter horizon for an uplift.
So what will prompt a move up - some more resources discovery, sulphides prospects coming on stream, demand for Uranium.
All we can do is expect the unexpected worth holding in my view.
CMR Price at posting:
44.0¢ Sentiment: None Disclosure: Held