dear mr huntley

Dear Ian,

Having recently purchased CMR around $5 based on Huntleys extensive research, $6.25 valuation and BUY recommendation I am very disappointed to see them retreat around 25% to around $3.50. Even as other resource stocks have bounced back following the recent market downturn CMR has steadily retreated.

It would appear that management are admitting to being unaware of the situation of spiraling costs and production delays. Their ASX releases suggest production delays of 5 months and added costs of $20-30 million. Even so management suggest that further updates may even add to these.

Recently management, via roadshows and earlier releases have assured investors that all is on track especially after HNC sold out at $4. It would appear that CMR may have dropped the ball and are not in control of the commissioning phase leading to production.

It would seem that even long term holders are losing confidence in management's competence and honesty, and going by their ASX releases this is hardly surprising.

I would be very grateful if Huntley's could undertake an urgent review of these negative circumstances and advise whether to hold, dump or average down.

In most cases I have found Huntley's research very useful and accurate however the research and the reality appear to be at loggerheads on this stock.