You say: 'Becoming a copper producer at a time like this seems to make perfect sense to me...Produce and profit from copper market while the market is super hot'.
I say: Matt's never produced anything for Comet. He didn't buy a single share in the company. He couldn't get the local landholders onside for the Barraba copper project. What makes you so enthusiastic about about the Mt Margaret copper project? Matt's got no record of achievement.
Matt sat on the graphite for years! He didn't even mention it in the quarterlies, for god's sake. We LTSH have got nothing out of this, our most valuable holding (yes, I know about the 25% stake in IG6 that has almost doubled in value but...). Why weren't CRL shareholders given an allocation in IG6? Matt got his!!!
I suspect we've been conned and we'll see a gradual deterioration in our invested capital as Matt tries unsuccessfully to get returns on Mt Margaret. Other, better informed posters, have explained why this could well be a bottomless pit of expenditure.
CRL Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
