My analysis of the CNC deal is that the Directors made the correct decision given the DD did not stack up. MEI was to get the majority of the 50 million CML shares and since the deal was cancelled their shares have gone down. Let us see what happens to the CNC package in future, hopefully CML management did the right thing. Either way fact is it would have caused serious dilution and weighed heavily on the financial abilities of the Company looking after all the ground and paying the option fees etc. There must be better deals that CNC available.
On the share trading, the Directors who have bought obviously have faith in the Company management's ability to increase shareholder value. Exploration is a time consuming process and speculative investment at best, or rather speculation and not an investment.
CML Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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