the cmy guys are the biggest floggers on the asx. they will try flog anything.
here is the cycle -
* their friendly sophisticated investors own most of the company (yet we know not who they are) and vote through all their shoddy resolutions no matter what. check out the dilution stinkers in the past announcements.
* CMY burns through very large expenses with the blessing of their sophisticated investors (yet they produce nothing). dont worry, their friendlies never lose out even if the SP plummets.
*glorious hype regarding latest ASX fad, SP rises marginally, if at all
* over half the company gets churned over, the sophisticates pump the price marginally, they get out, and its all profit (for them)
*then the SP plummets
*they push through a resolution to off-market gift their friendly investors, and also dilute and erase anyone punter that has bought on market.
Now just repeat every year or so. If it doesn't work first time, then just try again with different fad.
Explains why we are now have a very diversified Cobalt, Lithium and Med Marijuana marketing department.
Don't believe me - just read the announcements in the history.
CMY Price at posting:
1.3¢ Sentiment: None Disclosure: Held
