Ann: Successful Listing of TMC on the NASDAQ, page-25

@brown2348… we HAVE seen a big drop in CDM ! And I think that SH have reacted as if TMC was already $US5.00. I think some SH were expected in CDM to go thru the roof and were buying on anticipation rather than on the facts. Some are saying that Karl is looking after his own interests first, and as the largest SH, that is understandable…..but with TMC being held effectively in Escrow, I think would have been a condition of the sale, rather than by choice. I think that the market has well and truly pointed out to Karl that they are not interested in speculative “bottom of the ocean” mining ventures, or even holding shares of that nature. I think Karl would have got the message today ! Karl has said that the TMC holding is “locked up” for 180 days and that is beyond his control, however, he also said that it is contrary to CDM NOT to let winning positions run. Unfortunately, he also let a significant losing position in Melbourne IT or ARQ of 18% also run far too long ! CDM can’t do anything for 180 days and with any significant holding, must scale out of the position in the best way they can. How and what they do, will only come to light when they let SH know of their plans. Having said that, the SP has dropped significantly, there is still a dividend to issue, and I think that the SP will rise slightly as SH get over the shock ! Am in complete agreement with others that holding such a large percentage of a single stock in an LIC, is negligent, that floating off the TMC holding into a separate company is in absolute “Lala Land” and that SH want out ASAP; and I would further suggest that the share price of CDM actually went up prior to the float because SH couldn’t believe that they were so lucky getting rid of a stock that has been a millstone round the neck of CDM for so long. Karl, cut the bloody thing loose ASAP, and SH can buy TMC on market in the US if they want.
Oh and by the way, I can’t see how sucking the seabed for minerals can be described as more environmentally friendly !