Looks like margin call distress is adding to the damage right now. Doesnt take much negative sentiment in a nervous market and further anti-resources mood with the Board continuously "guiding" us in a fog to break stoploss pivots here. Pity.
We are now around the "value" of our half of the starter plant. THAT is a reflection of the ineptitude of the Board wrt protecting shareholder value and they should do the honourable thing and fall on their swords.
The Q I have to ask is was this known one year ago when we were at 5 bucks a share and expecting to be in production within "weeks" at THAT time.
Whatever the outcome this company needs new leadership. And who knows, maybe thats where we have been heading toward last few months.
I soon expect a paper bid from HNC Oz Ltd via their listed vehicle AII as soon as they complete their 70% takeover. Short term playing here has IMO now delivered an Ozzie company into foreign ownership. Well done boys. "Course u couldnt care one bit just like them spivs in NY with the rest of the market hey?
Maybe one last stand to try and keep us Oztralian ?
Hunter, nothing noble about this. Lots of self mutilation here.
IMBOOC
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
