I feared their cash position, SOI and overstretched portfolio...

I feared their cash position, SOI and overstretched portfolio would come to this. I did warn everyone that CTM wouldn't be mining anything. But, NO, that was 'down ramping' according to bubbles (who I can't see, but know is out there.. lingering).

Unfortunately, this is the most pragmatic solution to their problems. They were within the ASX rules by saying they're 'confident environmental approvals will come through soon'. Because who effing knows how long 'soon' is. Plus, they speak the truth when they say they have no cash to drill SW even if they came through with permits tomorrow. Looks like I'm in the hole for $10k with my OBs. But at least I sold most of my heads when I said I was going to weeks ago - for which I was labelled a 'day trader'. CTM will eventually come good. Or at least, keep trucking along. But for anyone who's followed this stock (as I have since late 2016), try to stay objective about companies you're invested in. I do heaps of FA research, and often find gems like CTM. BUT, I also know that they're not really worth anything until they begin making money by mining. And that almost always never happens. I'm hoping the cash they spent on JB ends up turning this around, because right now they're vulnerable. Vale saw a sweet deal, CTM with no bargaining power, and came in. Had it been 18 months ago when they were better positioned, they'd have chucked money at CTM, lots of it, for SW. But, like me selling shares to make money (which is why I trade shares), they waited for the opportune time and got a great deal.

I would keep an eye on the SP. Do some calcs about Nickle pricing, have a loot at its pricing trend over the last 5 years and be ready to buy CTM when people dump too hard.. like they are now. Just don't freak, because days like today are when you can make a lot of money - across the asx.