Looks like Harbinger are crystallising the tax loss within the group without losing control of thir holding(?) We cant do that here once company goes into admin unless u want to lose control with that sale at a buck someone previously mentioned.
HNC seem to have done the honourable thing by releasing "other" assets back to the administrator and focusing on the 3 original JVs debate. As I have said all along, biz is biz, all looks "legal", CMR provided the opportunity. Oz corporate laws however do need an overhaul as do the regulators to keep up with the times and Ozzie FED Gov is directionless IMO ..... but thats another issue for the politicos.
The future of the Oxides operation is in HNC's hands based what they next find with the current process investigations in BJ and likely to be reported to the COI in early August. Why do I feel more confident they can make it work ?
Meanwhile the FPOD is next step ....... u need to keep a constant watch on the FH website. Kinda catch 22 but u have to remember they appear to hold the reigns so any grumblings have gotta be supported with legal advice / action which remains a real possibility depending on how claimants are treated. Such could disrupt the proposed timeline for the DOCA which would be in no-ones interests, so hopefully this is understood and there is plenty of respect given. Cuzo no doubt can add.
I am focused on the proposed Raptor spin-off concerning the "other" stuff espesh the uranium assets and rights which HNC have agreed to let go. No doubt plenty of local interest amongst corporates and individuals but I would HOPE to think given most of the interest is likely to come from them associated with CMR past and present. It would be GOOD on all kindsa commercial and moral issues that ALL stuck together via a "Raptor" / shareholders pro-rata issue idea ..... plenty of overs would be expected hence plenty of underwriting possibilities for higher stakes. Reckon i have found underwriting for half so far and open to further offers.
They who are concerned would know what I am referring to and know how to contact me if interested in a united front. MJ of FH is a good first contact to show interest in working together. I am confident that this is also FH's preference and might provide an interim consolation whilst all parties continue to work together on the Batchelor project towards retaining Browns and hence CMR as a going concern .... THAT is the purpose of a DOCA. All sensitive and in the balance but one would hope that keeping the dream alive is what we ALL want.
Personally wish I was having a drink with a lovely Manchurian lady in the beautiful Yunnan Himalayas right now but theres work to be done and I prefer to have allies rather than enemies so long as we are all working for the common good. RESPECT to its supporters is what we all demand and has been the case from day one, something that CMR has not done satisfactorily in the past IMO. If they had, I doubt we would be in this vulnerable position now. That too is another issue.
Sounds a bit corny ..... sorry haha
I think next COI meet is early August so lets see what transpires then espesh re the "other" stuff and importantly wrt HNC's reports re the Oxides process.
That statue of Zeus should have been erected back then hey ?
IMBOOC
CMR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
