the mother of all news to come.

cmq 's investor relations manager; cmq’s public relation consultant; CEO; chairman – they will all paint a rosy picture, won’t they? The accounts paint the real picture.

Yes, from the CEO: An ASX release on 1 February 06 wholly dedicated to announce plant capacity:
"We are now VERY CONFIDENT that the plant will achieve 100% nameplate capacity in the FIRST QUARTER of this year".
Facts:
In the February Investor Presentation: Quote "100% nameplate capacity now targeted for the 2ND QUARTER of 2006" and shortly there after “We expect to achieve 100% nameplate capacity LATER THIS YEAR”.

And the CEO :"BELIEVES CMQ is on track to meet the 30 June covenants" (yes, note “Believes” compared to “VERY CONFIDENT”)

And after the fanfare of announcing the despatch of a container load to SA; by some stroke of nature, the CEO had since announced it as ‘being positioned’.

And on the ASIC case, Quote: “ASIC & CMQ had agreed to delay the ongoing court process by a number of months. As a result, this matter is not presenting a distraction to the company”.
FACTS: it was only the ASIC direction hearing that was postponed from 11 April to 12 June and the discovery process which is part of the litigation process was ongoing at the very moment of Mr William’s announcement.

Should shareholders pop champagnes after hearing "chemeq believes that ASIC charges will be upheld and is looking forward to presenting its case in court". What case? Did we not hear it was postponed by MONTHS?

How about the words of our beloved Chairman? Are they any better? In convincing shareholders to approve the Mizuho death spiral financing package, Dr Melrose proudly stated that the bonds were unsecured and it reflects Mizuho's great faith Mizuho in CMQ. FACTS – shortly after the approval; Mizuho registered a floating charge over CMQ assets.

Are the words of the CMQ’s public relation geniuses great comfort to shareholders? Yes, you better believe the pr gurus - resigning production executives and the sacking of key production personnels is the way to strengthen the company position as it moves towards commercial production!

What do we expect from our beloved CMQ? Nothing less than rosy pictures while the accounts paint the real position for anyone who care to read it. There are 3 weeks left and if the cash receipts do not come in on time to fulfil the revenue covenant and Stark cashes in their bond, it will almost certainly be in RECEIVERSHIP. Even if Stark do not cashes in the bonds, the sales is dismal and sale receipts are even less impressive. Without sales; MP1 not achieving nameplate capacity and burning $2 to 3M per month and unable to raise capital to expand production, treating shareholders like mushrooms, the share price will be rocketing soon, wont they ?