looks like we have been cut out by fh, page-18

Disappointing is an understatement. Charade by looks.

Anyway bottomline is that FH now place themselves back into a position of representing the carve-up of Ozzie assets to 3 FOREIGN entities, which is where we started before the "charade" of assessment of shareholders POD claims began. Guess we had to go thru the process hey? Red flag to a raging bull now methinks.

Whilst orderly, there could have been some kinda shareholder representation toward reaching some kinda compromise maybe. Now the representatives themselves have being made redundant with a response which IMO may indicate that maybe FH have NOT delved deeply enough into the FACTS, nor do they want to, nor do they probably ever had any intent to do so. They represent creditors dont forget and were called by CMR Board in the first instance.

Cyclopes methinks u r right ..... past employees have disappeared, seemingly taken by sharks off the Portsea surf. Maybe under oath they might have a story to tell. But they have to be found first. Be nice to think they look in here occasionally and have some kinda conscience.

And BT yeah ... HNC are minding their own business cos time is on their side as they rack up the R+D cost. Not their fault if presented with a gift. In fact HNC are probably the shareholders' ONLY true white nights if they wanted to come to the table and smoke the peace pipe. Am sure we wouldnt mind THEY paying out all creditors and re-capping CMR for a bigger slice of the whole pie.

Shareholders who submitted PODs have repeatedly thru their COI reps STATED their FLEXIBILITY to reduce claims if given a FAIR DEAL !!! I mean wouldn't you rather face say, a HNC 65 / shareholders 35 final split for the 3 JVs with a viable and re-capped CMR making moolah, than what now promises to be a dilution into nothingness for us ??? Maybe someone should ask them the question ? Come on HNC ... what a WONDERFUL opportunity to become Ozzie HEROES ... bit of vision and u have eternally great PR in Oz !!! Who are your advisors ???

And FH are conducting themselves to the letter of the law instead of taking the opportunity to really make a name for themselves as patriotic defenders of Ozzieness. Well IMO they FAIL with their seeming reluctance to properly DELVE into the complexities and evolution of this whole shebang.

Re GT and Cornell ........ they are doing their bit for themselves as well. They will probably be able to privatise and refloat their eventual equitised debt on a foregn exchange ... wasnt that GT's original idea? Well we thought what a great idea at the time since WE the SHAREHOLDERS would have shared in the rerate.

So who is to "blame"? I guess no-one is "legally" to blame. Ahh blame it on Lehman's and the GFC I forgot ! And that 10,000 buck featherweight toxic pill ... yeah forgot that too. "Standard practice" we are told.

Well guys ... maybe it is time for these Qs to be asked in the public arena. Maybe it is time for the right Qs to be asked of our Government who originally turned a formal blind eye and left it in the "capable hands" of our Ozzie administrators(?)

Much has been done at the COI meets to try and impress on FH the broader issues at hand, and the shareholders DESIRE and FLEXIBILITY (per their claims) to accommodate a workable compromise without moving into WW3. But realities now are shareholders have NO REPRESENTATION or SAY in any further proceedings ...... it is now entirely up to FH, GT, Cornell and HNC to determine how the CMR non-core assets will be given away and CMR's equity in the 3 JV's carved up. And once again, no hurry for either FH who are paid in TIME, nor HNC who keep debiting CMR with the ongoing R+D share, whilst passively sitting in full control of the JV assets.

And of course the FED GOVERNMENT is happy that due legal process is in play according to Ozzie law.

And of course Ozzie public wouldnt have a CLUE that future generations of Australian WEALTH will not belong to them ... cos no-one has told them.

I guess individuals can make an impact by sending FH a "note" re their thoughts and having a yarn with their local elected representative ... might work if enough do.

A wise man would say consider this a lesson to be learned and move on. But sometimes wisdom aint the only issue. There are other issues to consider. And guess its next up to individuals or groups to do what is in their conscience. Plenty of raging bulls my end of town and I aint a matador haha. Dunno whats gonna happen next tho. Curious to see what unfolds.

Anybody seen Bob Young around? Or that guy on GT's team who originally assembled the Cawse bits? Or them consultants who resigned along the way? And that local NT news lass who used to keep close tabs and is kinda being discredited now?

But I really believe there is still a GREAT OPPORTUNITY for HNC to become HEROES now if they really wanted to. Even if they paid out other creditors, cancelled theirs and recapped a clean CMR with some working cap, for a greater share of the lot, it would be like starting with a CLEAN new operation with a couple of years' payback and shareholders would have a decent hope of seeing decent share price again! The invitation remains OPEN, as always, for a yarn on their ground or ours.

Oh almost forgot ...... above is naturally "opinion" and "without prejudice" of course!

IMBOOC