Nice to see heaps of "profanity" going around in here. HC recently sent me to the sin bin cos they perceived my 3 letter abbreviation as being something other than my intended 'what the freakinghec " ....... totally ignoring the context of my post which was significantly relevant to getting a message across to our so called government and regulators who are allowing wholesale rampage of our mining industry, destroying our country's credibility and sending our currency on a new primary downward spiral.
Get real HC ..... half a billion bucks of ordinary ozzie folk's wealth has been wiped off here on some 'technicalities" ... with Oz govt making it easy by overturning past legal precedent which would have helped ordinary australian shareholders' cause !
This whole administration process could be seen to have been "?nfair" from the start, but totally legal of course, cos our legal system has not had much experience with such. FH just doing what they are allowed to do.
Actually if these yanks do have a colourful history back home as some suggest, then maybe the US SEC should also be alerted to the timely coincidences here causing a share price death spiral leading to CMR's demise, and who knows. Surprised our ATO hasnt done checked (or have they) given the super fund lossess.
But so far as our deemed 'protectors" of Oz generational wealth are concerned, the Government, what to say ? Incompetent? Conspiratorial? Criminal ? Unless tested in a senate enquiry / court of law, the sands of time will cover all.
Bottomline, it is up to individuals to consider the only options legally available to us right now viz
a cent or two + tax loss .......... yes vote
zilch + tax loss ....... no vote
How many shares u have will determine whether that cent or two is worth considering. My family holding is 550K+ at last count. And dont know re timing in either case wrt which tax year we can claim the loss.
On a show of hands methinks the no vote would romp it in....depending on how many attended the meet with proxies ?
On a share count who knows , depends on who is allowed to vote.
Meanwhile HNC are sitting in key possie either way atm ... no doubt they will resurface re this later ...after shareholders have been put to rest.
I just hope we dont see a revamped entity with all three aliens later setting up a Hong Kong JV, cos that would be adding salt.
Whatever the case, we shareholders are dead in the water.
Only consolation if any, is the statute of limitations applicable in our legal system ... it wont be over until that passes, so if anyone continues to bother or is able to, or enough media attention creates further questions in future government ...
If Labour is re=elected, Oz is doomed ..... but it wont do our pockets any good.
All above is painfully without prejudice and reluctantly without an ounce of profanity that I can see. This time will copy this post as well just in case .....
All the best brothers ... it is a sad day in Oz's history that we face such an insult to our pockets, intelligence and sense of fair play..... but referring to the most insulting quote of the century, if u r a shareholder, just remember what YA's chairman told us in accompanying letter to DOCA .... something like "the situation is what it is and you really have to accept it " Yes, but what we never had was a chance to find WHO made the situation what it is ???.
And FH, shame on you for not conducting a forensic investigation which shareholders asked for per their FPOD submissions, even tho you were being paid by shareholders'funds per CMR account. Is that how independent administrators are supposed to work ?
Sad.
In my biased opinion and without prejudice of course.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
