is cf playing silly buggers?, page-10

Good post Deepestred,

I was just just thinking this morning that this whole "accelerated non renounceable entitlement offer" has been a masterstroke by management as it has basically forced CF to either put up or shut up.

I have done much research into the huge Chinese foreign currency holdings and know that they are desperate to get rid of the Trillions of US$ that they are holding. I believe this is one of the main reasons for China stockpiling metals like copper (They would rather have warehouses full of copper than bank accounts full of worthless US$).

I can just imagine the decision making - what will these US$ be worth in 5 years time and what would DML be worth in 5 years time.

The Chinese have a long tradition of "saving face" and it must have been quite a bitter pill to swallow when they had to do a 180 on the "we will not partake in the CR" and turn it into a last minute desperate TO bid.

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By proposing the CR, management would have stopped the SP freefall, forced CF to show its hand and if all else fails, it will raise some much needed capital to get us over the teething stage - its not often someone can outmaneuver the Chinese!!

And so much for the so called CF "letter to shareholders", I am a shareholder and have not received any such letter - all I can find are "extracts" in the news.