khaliqs is admin closer

Hi Khaliqs,

I agree with you that production should be profitable if successful , which is a big question based on the track record to date of management.

My thoughts re CMR going into administration (voluntary or forced) is that their bankers would have to be getting nervous. With MC at 128 million at COB today and ever increasing loans with no revenue, I wonder how long in these times will the banks sit happily on the side lines.

I ran into colleague of mine who works at Browns the other night and he made the assumption based on what he sees that production should start in the next couple of weeks. Having had a few ambers, I forgot to ask at what level.

If there is further delays/ stuff ups/fund blow outs there is not to much more share price to lose and also CMR's debt to equity would certainly have to come into play one would think.

I have watched this stock closely and was a firm believer that there would be an opportunity to pick up this stock pre production. I never imagined it would go this low.

Cheers


MF