i have to agree with you in light of the last couple of weeks......

i have to agree with you in light of the last couple of weeks... Recovery story still possible but it looks like there are big problems behind the scenes and management have done a terrible job of allaying the fears of the market that there aren't.
The half-baked and poorly written recent update also doesn't explain how they are going from 100ktpa to 440ktpa, how much it's now going to cost, or why the stage 1.5 production figure has slipped from the 625ktpa figure that was mooted originally.
Currently looking unlikely to get funding from NAIF which is currently copping flak for wasting public money on KLL among others, which CXM is increasingly starting to resemble.
On the other hand it's not as complex to produce phosphate rock as what it is to produce SOP and the process is working, just not in commercial quantities as yet. That's why I'm not going to write CXM off and sell at a loss yet, but continue to unhappily hold. Certainly don't see the phosphate rock price dropping anytime soon, especially not in AUD terms, so it's really management's game to lose