There could be more delays with the Li now, thanks to the graphite debacle.
CGM have no leverage to push through the LOI IMHO
If I were those 3 guys who have the tenements I would be stalling to get better terms, eg. a consolidation before the share issue, easy way to pick up 20-30% of CGM instead of sub 10%.
Not sure if CGM will need a CR in the short term though. I thought they still had about 800k in the kitty at least due to sale of some rigs and very little projected expenditure - assuming all the tax issues are sorted.
And why are there legal procedings around the sale of the Brazilian tenements? Its a sale!!!
What, did we sign them over and not get paid - or did the other party renig on the terms.
And for the Graphite, Steve Goertz is the guy from Hendry isnt he?
CGM Price at posting:
0.8¢ Sentiment: None Disclosure: Held
