Should say I have also been mulling the HNC side of things for a while now. Buying back in is sort of against my better judgement in a way because I have absolutley NO FAITH in the current CMR board (ok bracing myself for Zeus's lightning bolt lol) but while they are no doubt A Grade, numero uno explorers - (credit where due) thier arrogance and refusal to accept things could have been done different on many levels including my old bug bear PR - I can;t help thinking what would I do if I were HNC.
Ok HNC dont give a rats about the shareprice (as evinced by the price they last sold for) - they are only interested in what they can get out of the ground to help secure thier metals supply - What would I do to protect my interests and best ensure security of supply even though I had lost faith in my JV partners ability to deliver.
Hmmm what would I do - I'd probably start putting my own people into positions where they could help make things happen and at the same time keep an eye on things and keep me informed. Once JV agreements were activated, I would be looking to have even more influence - including at board level. So while I have lost all faith (and nearly all respect for the board and senior management,) I reckon there is a fair chance that if management dont perform, HNC will!
They have already slipped a cpl of their own into the feasibility study - I suspect that is just a start
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
