Minutes - Urge all shareholders to read them as gives you an idea of what happened leading to fiasco of last trading days before administration.
Basically CMR owed way too much money to the JV and HNC dug their heels in as they were wearing the risk going forward as CMR were not funding their share, this accounts for money dispute mentioned on last day.
Any thought of GT acting in tandem with HNC is out the window.
DOCA - you will note all HNC want to do is get the plant right and revert back to where they were, all major creditors of CMR being Cornell & GT have to sit pat until plant works or is sold up.
Nothing to date should give any joy to shareholders, it will be a long drawn out process under DOCA then you will know if things work or not operationally, HNC will fund oxide JV to this end secured against sale of assets if not successful.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
