Thats the point. Its for EVERYONE to see. Bit like the Cold War .... u might be aiming nukes at each other but u still need to have an informal meet in Geneva to avoid the need to launch them.
Diplomacy beats war espesh when the war means no win for anyone. The whole purpose of this exercise is to PREVENT disaster and make it a win - win for EVERYONE based a FAIR outcome.
So yeah, informal "disclosure" for starters for a change, in here, why not, the Geneva of the ASX ...
Regards to CMR directors new and old,
Regards to shareholders small and major, past and present.
Regards to HNC, FH , EY, ASIC and FED government ... u better believe they are ALL looking ...
... cos there are SERIOUS ISSUES and precedents being set here and we gotta address ALL OF THEM if OZ is going to be a level playing field of fairness for ALL investors to have confidence in ... otherwise game over for the stock market and capitalist system we have grown up in.
There are ways out of this to save face at all levels and provide a fair, legal,moral and ethical result for ALL.
And that result HAS to be the survival and rebirth of CMR with its asset and shareholder bases intact and creditors able to be repaid from operations.
At least thats what I hope to see ... I'm the idealist maybe ... but I can see everyone's points of view and strengths and weaknesses ..... and the ONLY WAY ALL will achieve an equitable result is for CMR to emerge out of the ashes it is in now. How it got there is another matter to be addressed in due course but not the immediate priority for them looking ahead.
Personally I think FIRST FAIR STEP could be to isolate the non-core bits which can be fatally embarrassing to HNC and even offer them a face saving way out ... ie token gesture of good faith and support for the Australian system and its rules ... which so far I think have NOT been respected. This JV with a sovereign-fund backed PRC company was a "first" for Oz when it happened .... and all eyes upon it as a future test case.
So I propose, irrespective of all else, that the previously proposed RAPTOR spin-off go ahead ie quarantine the URANIUM and all other non-Batchelor assets into a in-specie distribution to existing shareholders as was the original idea. HNC should have NO interest in these and CMR shareholders will at least be able to get along with part assets development whilst the core negotiations proceed for Browns oxides and sulphides projects, which is what the JV was supposed to be about.
FH have now dug in for the next 12 months by looks but notice was given per yesterday's Qs they need to lift their game to a level more appropriate to the complexities and broader issues involved here.
Personally thats my priority and happy to discuss with anyone interested.
So much more to do beyond that, but right now HNC has a PR problem to address IMO, and more than happy to discuss this as well with them and the admisitrators.
We should all be working together for the long term benefits to all parties involved. But it should be recognised by now there are long term supporters who want to see this succeed ... and who were never given the opportunity in the first place to help prevent this state of affairs.
IMBOOC
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