yes they were. your concerns were misplaced - regardless of outcome. last i checked being wrong was not a crime, nor was discussing investment ideas publicly, in reasonable terms, cognizant of the risks all along. please point out exactly where i was 'pumping', at any time, with regard to the opportunities and risks in the CMD case. i will no longer engage with you given you are obviously just a hater.
as for CMD - clearly this is a hugely negative development and i fully exited my stock today. whilst granting jurisdiction is of course good, the main problem is the selection of Accra as the seat for the arbitration. it means, effectively, that any subsequent appeal/annulment hearing would be heard in local Ghanian courts – with obvious consequences for probabilities of collection. near term, it makes raising litigation financing very difficult, if not impossible, which in itself reduces odds of success here, substantially. frustratingly, the arbitration did not seem to give any reason for the selection of Ghana as opposed to a neutral seat (I spoke to the company and they seemed shocked this had happened).
CMD Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
