The timelines they set were very very ambitious, not to mention complicated when the exceptional deal to purchase the ferrosilicon producer eventuated. However, indications are they'll meet the deadlines and look forward to an announcement over the final few days. I much prefer management to deliver on promises and business plans than one which constantly provides re-hashed announcements (like CTP, ICN, QMN etc)
I suspect the SP is being held back to limit the dilution from the Dec 31 options. Should see some forward movement early next year. Especially when production and the profits start in early January.
Also wanting to see an announcement regarding the sourcing of coal. Based on the previous two acquisitions, it will be an excellent deal for shareholders.
CMC Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
