This time last year I had 79,944 shares, now, I've sold down to...

This time last year I had 79,944 shares, now, I've sold down to just 12,600.

If we get closer to ACTUALLY getting metals out of the ground, and commodity prices don't collapse and CMR is reasonably priced (i.e., sub $3), then I might chance GT et al's deception and get back on with another 80,000 shares or so.

But right now, I simply don't trust a word that comes out of GT's mouth. This isn't unreasonable given the following:

1. He (and MH et al) sell like crazy at the at prices between high $4s and high $5s, whilst telling shareholders that everything is hunky-dory.

2. He gives himself a remuneration package that draws harsh criticism from the ASA (who normally primarily concern themselves with substantially larger corporations), and we shareholders ostensibly do nothing about it - although I personally voted against it, even though my votes obviously weren't counted because officially, the number of dissenting votes was less than 79,000 shares (perhaps my papers were lost in the mail).

3. He grants himself in-the-money options this year, even though as chairman, good corporate-governance would see him receiving a fixed salary rather than options.

4. He signs us up to a deal with HNC in which they ended up getting half of our sulphides and oxides for next to nicks (despite the jump in SP, I was always against this deal, check out my earlier posts on HC).

5. He massively diluted our shareholdings by issuing bucketloads of shares to Patersons etc, at 30c to $1.25 when the intrinsic value of CMR was many times that figure, interest rates were rock bottom and there was no good reason that we couldn't have obtained at least part of that funding by using debt.

6. He gives us not one but TWO production delays, with lies and deception implicit in the second delay, of which we have already discussed to death.

If we had someone who really knew what he was doing like (e.g.) Leigh Clifford, then I have no doubt that CMR would be a $10 stock right now.

GT has been carried by the quality of the CMR tenements and we have all sat back and allowed him to f*ck us because we were happy with the SP performance to date.

Warren Buffett says that when he hires a manager he looks for integrity, intelligence and drive. But if a manager doesn't have integrity that intelligence and drive and counterproductive (if you think about it, you really want someone who is dumb and lazy in that case).

So my question is does GT have integrity?