further thoughts

Ive been daydreaming about this all day and have come up with a gutfeel we are being set up for a major shark attack. Consider this line of thought :

(1) The large parcel ( 6 mill ?) was done off market at 71c lower than previous close of 481. And it was announced before open of trading today. In Oz u would have the tax man breathing down yr neck if u off-market crossed so far below market price ........ but Ozzie taxman has no jurisdiction in PRC.

(2) To give some credibility, open price was pre-matched at 420 by obviously taking advantage of the very thin open buy side down to that level. YET someone was sitting around there soaking up ANOTHER 4 or so million which came out on market during the day.

At this point the ASX FAILED TO ASK WHY. IMO an immediate "sliding" ticket should have been issued ...... 12% for an XJO componenet CERTAINLY WOULD MERIT THAT ??? .... and since CMR would have had no immediate answers, CMR could have called for a trading halt to prevent ONE FULL DAY's suicides.... but who was to know? Looks like "they" literally caught RS and GT & co napping. Darwin 1 hour behind EST? And GT would have been sleeping. Hence difficult for CMR to "protect" the ensuing slaughter.

(3) Last day FY would IMO have been chosen to put further pressure on the nervous bystanders wondering wtf was happening. Would have been very easy to keep capping at the lower levels all day with strategic sales.

IMO ASX should investigate course of sales during the day to determine if there was an ORGANISED PATTERN of squeezing lemming blood at the pivotal support.

(4) HNC are owned 40% by China Inc (PRC gov) who are aggressively eating up class resources deposits worldwide. China Inc would have final sayso on any HNC board decisions I would suspect.

(5) And why off-market instead of on? Cos IMO :

(a) it needed to have had a perfectly timed "shock" effect .... which it obviously did;

(b) if on-market, the theoretical HNC "affiliate" may have run into an alert local insto or two sniffing cheap stock and ENDED UP LOSING PART OF THE 6 MILLION NET INSTEAD OF GAINING UP TO ANOTHER 4 MILL NET ........... IMO.

(6) HNC would have to declare their sale (by ASX rules) cos they own > 5%. Today's "obvious" parcel appears to have been less than 5%. Any future purchases even if by same buyer could have been hidden inside nominee companies. ASX has no jurisdiction overseas. So we may never find out who owns these ......... until they want to come out of hiding with a T/O launch. At that time I would expect a number of further crossings to one entity making the move.

The only protection we may have had today albeit temporarily would have been a trading suspension.

If I was an overseas entity looking for serious accumulation to amass a launch platform, thats exactly how I would have done it ....... and it appears with great military precision today ......... right at a pivot and right at a time when local / overseas friendly instos would have had NO WAY of joining in competing with the "buyer".

TIME ZONE WISE, the US and UK backers would have been literally asleep and the local instos would have already closed their books. This then appears to me a clever Asian preparation to fuel the sum of all fears I have had in recent weeks re our extreme vulnerability to shark attack.

It now remains to be seen what advice/action from CMR/ASX on Monday. A pre-open announcement would be fairest. Meanwhile up to 10 million shares has IMO prob ended up in a HNC "affiliated" entity's hands who may have been covertly amassing even greater numbers in the past.

And if HNC later pass over their remaining parcel, we are IMO likely to see a player emerge with a T/O from a 19.9% holding base (?????) accumulated quietly over our extended period of consolidation.

Such a shark attack would IMO likely be done BEFORE our oxides start-up hence before earnings drivers would make it harder/more expensive for them.

I am only HYPOTHESIZING here and could be WAY off the mark but my gutfeel has been deadly on some previous occasions and the stink coming from these lands beyond our Northern shores is strong to MY nostrils right now.

IMO it is IMPERATIVE for CMR and the market to find out whats happened here before an even bigger shock emerges, and fact that HNC "decided" now was the time for this move, implies to me "that" time is also nearing.

It is also IMPERATIVE for CMR to find out so they can establish exactly WHO is calling the shots for our JV partner and even use this in our corporate strategies of the sulphides evolution. A strong protest should be aimed at HNC for not pre-alerting CMR their intention ..... they obviously didnt wnt CMR to find a "friendly" home at a more market price. Reckon such a parcel would normally have attracted a PREMIUM not discount.

From my point of view, if we are to lose another Ozzie icon to foreigners, then that should be done at FAIR VALUE ....... check out the Huntley's latest "valuation" ....... not at a third to half that based spot. Only problem is the "fair value" they are talking about is yet only a fraction of that likely in 3-5 years' time.

IMO ...... I THINK SOMEONE IS TRYING TO STEAL OUR COMPANY FROM UNDER OUR NOSES AT FIRESALE PRICES. And I further think CMR should spend more time addressing corporate strategy issues like this as utmost priority. No point setting everything up for anyone else than OUR grandkids.

And IMO shareholders should get some REAL FEEL and ADVICE on the TRUE fair value so we dont hand it on a platter to them ! Where are our local backers?

Today's events really have my blood boiling. Desired effect increment was obviously accomplished today. Price is back a third of the entire "A" move from its all time lows. Is it going back to half in the "quiet" still ahead? Or is Oz gonna be wise enough to hold onto this emerging gem ???

No it wasnt me selling today haha. I wish I had so many.

ALL HYPOTHESY ABOVE. What do u think?

IMBOOC