Its now well over a year since this company , CMC/Sovran White , parted ways with Blackhurst and Bass . We used to be starved of information about what our company was doing , though we did get plenty of , what turned out to be , false dawns and overly optimistic forecasts . The new 'team' has had control since April last year and really , nothing has changed on the information front . The 'sale' , approved by shareholders last year , has not completed . We don't know why it hasn't or when it will . We have a 40% share of a Li play in WA but hear nothing of any progress there . There was only a vote of 56% of the shareholding at the meeting yesterday , so obviously the company has killed any enthusiasm the shareholders may have had but the board has been given everything they have asked for from shareholders . They have the people they wanted on the board and they have been talking about a prospective 'deal' for over a year . So what is it ? What business have the shareholders got their money in ? At present we have no idea . The board can't expect shareholder support unless they step up and do their job .
CMC Price at posting:
1.1¢ Sentiment: None Disclosure: Held
