All HNC really care about is 30 years'secured supply of cobalt...

All HNC really care about is 30 years'secured supply of cobalt and the lead. And if u really think about it, they probably would want to run the operations at breakeven here so as to keep the value-add and taxes in PRC. Why pay taxes here? Dont forget the 40% PRC gov ownership.

And interested to see what evolves outa the "now u see it now u dont" uranium of the Rum Jungle Uranium Field which our FEDS dont seem to be concerned about. JD is still talking about a third primary ahead for U that will nuke our minds off and I aint arguing with him. 14.5 mill lbs JORC one day ... 2 mill the next ??? Anyone asking the Qs about this ?

Reality is HNC swooped at the RIGHT moment at the bottom of the AUD-designated metal prices cycle and it all happened like a military operation IMO, involving unsuspecting forces providing the death spiral backdrop. Sorry guys, as I have speculated so many times, if u wanted to write a script for such u couldave and wouldave won an oscar for it. Too much timely coincidence for mine .... in my speculative mode of thinking of course. I wonder how deeply FH have delved or are compelled to delve ?

All speculative imagination on my part of course and might be way off the track and yeah Murphy works in mysterious ways, but when yr dreams are shattered by such a sequence of events ... yeah ...

BT one thing as u say tho, much must have been known from early in the piece and held back ... but meantime the selling was relentless all the way from the May 22 AGM. I stood in the way 6 times and stopped out with a bloody nose each time. Then made a stand at 52 .... and 15.5 thinking the 42c equitisation was too cheap for Zeus's sake....

There MUST be something unusual about HNC rennegging at the very last moment from that 42c equitisation and there MUST be something unusual about them TRIGGERING events to invalidate the EGM which would have equitised them (and GT) at 42c AND SALVAGED THE ARK FOR ALL SHAREHOLDERS TO REAP THE BENEFITS AHEAD.

So PLEASE dont say to me they are VICTIMS. If they wanted to show their goodwill to Ozzies, all they had to do was keep their mouths shut ONE MORE DAY and CMR would still be afloat and looking ahead for ALL ... not just HNC and creditors.

Reckon SOMEONE mustave seen the opportunity and advised them the OZZIE LAWS ALLOWED THEM TO TAKE THE LOT IN ONE FELL SWOOP !!! Am I the only one who can imagine this?

And if the FED GOV ALLOWS this to conclude in this way, WHAT INCENTIVE FOR ANYONE TO EVER TRUST A JV WITH HNC OR ANY PRC COMPANY GAIN ?

Reckon the time baseline for start of this spiral was the May 22 2008 AGM date. At that time we knew about global subprime slime and the deteriorating state of global credit markets. CMR price had fallen 75% then bounced to 50% from peak as we were all told to sweep the past under the rug and look forward to imminent start-up and profitable independence. And that there was NO NEED for ant PR or dual listing etc. I was there and asked the Qs. Many here would remember the spiel. Many of us decided to hold cos of the positive implications. If any negatives had been cited then, reckon most of us would have baled. But the selling continued and accelerated without reason why.

So yeah we all have our thoughts but reality is only a few months later we were proven insolvent by VA disclosure of fixed charges we had no idea about and which must have existed back then.

We can all draw our own conclusions, rightly or wrongly. But the Qs have to be asked re the demise of a 600 million buck market cap company which not so long ago had FED GOV preferred project standing, with 200+ million buck plant and billions of bucks of IG assets now in the hands of HNC for basically zilch with CMR shareholders joining the fate of our dinosuar cousins.

IMBOOC