Had HNC not provided the US$10M it would have been all over last year and picked it up then at a lower overall cost, don't blame them for CMR problems.
We need more info on dispute between JV partners, but you put your self in their position, why take equity in CMR if all they want to do is close the operation down, HNC could fund their part but CMR was unable and with further delays in ramp up no hope of covering costs.
Why would any shareholder put in if stated objective is to close down operation, a flawed strategy which would have failed to raise the required cash to keep going and pay past debt, it was never on,just a last attempt to keep the show going.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
