CMR Shareholders Hit Chinese with $375M Demand...Yes it’s a...

CMR Shareholders Hit Chinese with $375M Demand...

Yes it’s a sensationalist (and fictional) title but no more so than HNC claiming $372M.

.......5000 CMR Shareholders claiming and average loss of $75,000 each have countered HNC’s claim of $372M with their own claim for $375M......

Shareholders have put just much of their hard earned dollars into Compass Resources as any of the other parties involved and we have as much right to a return on that investment as they do. And shareholders are not trying to scuttle any attempts to rectify the current issues facing us by putting bogus claims out there for exorbitant sums of money.

Shareholders don’t want something for nothing they just want a fair go, to see Compass Resources evolve in to the great Australian resource company that we were told it would be and to see a return on our investment in it.

In fact if HNC had honoured the November 08 MOU and HNC/CMR had been more up front and worked more closely with shareholders on the issues confronting them prior to the January 08 EGM we could have worked through those issues together and avoided this current situation where the Administrators are currently the only winners and the only ones making any money.

If the Resources/Mining Industry wants continued investment from shareholders they had better start treating us with a lot more respect or they may find it increasingly difficult to secure shareholders investment in the future when word of this type of situation gets around.

The major creditors, the JV partners and the administrators have an opportunity to rectify this deplorable situation and restore some faith in shareholders view of the Resources/Mining Industry and the system generally by working together to produce an outcome that is fair and equitable to all that have invested in this company. Don’t F*$k it up...

Opinion only and written without prejudice.