It stuns me that anyone could think that a person posting negative sentiment about a company like CMR on hotcopper has any impact on the share price. I suspect that the combined holdings of CMR regulars on hotcopper wouldnt equal the amount of share traded on most days this week.
The share price reflects market sentiment in a very poor market. It also reflects the fact that finance is very hard to get in the present credit crunch and financiers that have already taken a beating are not too keen to lend to higher risk ventures. And, there are still concerns that CMR will need more cash in the short term.
When CMR has a positive cashflow sentiment might change.
No one can argue that CMR finds itself in the position because its 18 months and $100 million over runs. Such wouldnt have been too bad in the markets of 18 months ago. But in today's market, it is a real problem. Maybe they should change the name to Perfect Storm resources.
Here's hoping that it all turns around soon. It's hard to believe it could get any worse. But who knows.
Maybe we should ask one of those "mediums" from channel 7's "the one" program!
CMR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
