CGM wasn't shafted mate. They were fired. CGM just had to drill 3000 meters and do a JORC in 9 months, and they didn't even come close to finishing. They sent one person to Madagascar and he couldn't finish the work. If you don't finish the work, you don't earn in on the deposit. That is standard stuff in any JV. Why didn't they sent 3 workers to Madagascar so the work would of been completed? If CGM took the chance to send only one worker to Madagascar, who's fault is that? Whether the worker sent to Madagascar went to jail, or was struck by lightening, or drowned in a river, or was shot by a jealous husband from a village, and then didn't finish the work to complete the JV, CGM doesn't earn in. Standard in any JV deal. If you hire a company to build out a room in your house in 30 days, and 4 months later they still haven't finished the work, because the worker got into a pub fight and went to jail. Is that your fault? No, and you know it. Of course CGM goes to court, and both sides settled, and CGM got some money from DNI Metals. DNI just wanted to get back to work and finish their deposit and mill, so they settled. So what is new in CGM not drilling? Where in the world where CGM has deposits have they drilled? Has CGM drilled anywhere in the past few years? Did CGM drill in Chile or Brazil either besides Madagasgar, where they had deposits? Was that also DNI Metals fault? Let's see CGM drill the deposit at Pyke Hill for starters. Sooner or later every resource stock has to drill, or they won't get anywhere. What is CGM going to do, if they don't drill Pyke Hill? Pull the Nickel out of the ground with their teeth? Just my opinion.
CGM Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
