Not much else to say but wow. To see two directors tip in $6m to take up their options, is an incredible sign of their confidence in the the company. The $6m pays for 25% of the acquisition cost for the new project alone. Tack on the extra $10m now drawn from the debt facility, and CMM are basically, only reducing their working capital by $11m for the project. Cannot deny I am still annoyed at myself for not having spent more time reading up on the board when CMM was still a minnow, but happy enough to be onboard. The obvious goal for CMM over the coming 2-3 years is to basically double their production and reach 250k+ p.a. Finally, we have a new mid tier producer in the making. So few actually exist on the ASX.
CMM Price at posting:
$2.25 Sentiment: Hold Disclosure: Held
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