If I do get along to the EGM I will be looking for similar to what someone else mentioned earlier - Tell us your plans for surviving the next 12 months or so.
Building shareholder wealth is far from my mind atm (and my current holding reflects that)Survival is key atm and for foreseeable future.
BTW I DO expect survival is dooable but only with a clear plan - but for mine, the key is to tread water enough to keep from drowning untill metal prices turn around - and turn around they will ........unless we all go and live in caves again - (spose that is on the cards to a point).
The key is to tread water long enough to be around when prices improve - and when they do, I dont expect them to just improve - I expect them to soar.
A few months back my thinking was that metal prices will return to a mean level between the highs and current lows but now suspect they will probably explode. We seem to be in a deflationary mode at present - real estate prices are falling - oil is falling - commodity prices are falling - it wasn;t that long ago everyone was worried about inflation but now that we are in deflation every central bank is doing everything it can to create inflation.....go figure ...and they are the smart blokes lol
Maybe that's not exactly right and we could argue incidental points forever about it but as I see it that's the ducks guts of where we are at.
Credit got us into this mess and it would appear the only "quick"way out of it is for credit to get us out of it again. At the moment - and I dont understand it - everyone is fleeing to paper value - USD etc - don;t think it will be too long before people start fleeing back to stuff people use.
But bac to CMR - Is all well and good to go along and ask hard questions at AGM.s etc - have done it before - but they also have stooges in the audience to counter and rebuff you (well at least that is my opinion having been rebuffed from the floor in the past even on the most indefensible arguments)
Usually far less numbers at EGM's but as said, have been to them before and asked hard Q's and can say it is hard enough to ask them even when you know you have support of others behind you (pre planned perhaps) but is utterly useless asking them if the room is not full of angry shareholders and )bearing in mind we dont know the date as yet) it doesn't sound like many intend going so will probably save my petrol money me thinks.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
