browns update now out nc, page-14

Once again, CMR has disappointed. The NT is slightly different to Australia in that everything is very laid back which definitely includes the work ethic. The Batchelor plant is no exception.

Some construction companies up here pay a $150 turn up bonus on a Monday, as the level of absentees at the start of the week was severly affecting the timelines of construction.

I have severely questioned CMR ability to manage this project on this thread in the last few months and now I wonder if I was wrong. I have always said they will get Browns up and running, but I now question will they? In these times of changing debt & finance structures will the bankers start to question their continuing support of this company or will they look at the performance of the management and cut their losses.

As a business person I find it very hard to commit further funds to this stock based on CMR performance over the last year.

MF