BT you stated "shareholders will be looking at total write off if they don't cut a deal shortly"
I don't think there is panic just yet HNC have 187 million good reasons to keep this thing going. The Value has not diminished it is just complicated by the increased debt.
Unfortunately, I have never run mining companies but I know a little about companies in construction and property development. When faced with difficulties the way out is not incremental improvement but radical change in a risk / reward scenario.
From what I have been reading China is starting to purchase coal again which means the Chinese investment in infrastructure is underway. A recovery in the mining sector is on the horizon. Our non ferrous metals could well increase by 30 percent by the end of the year and mining costs have become very competitive. It looks to me that value will be restored in CMR by the end of the calendar year with more efficiency in mining and operation combined with metal price restoration.
How do we ensure that all of the assets remain in tact and I still ask the question - how can we get some inspired leadership in the company to restore the value and strike that deal that you suggest.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
