I just read the CMY quarterly after reading one from another (very impressive) company. Absolute chalk and cheese.
Probably the thing that annoyed me the most was comparing the quarterly forecast in the March 2017 report with what actually happened (June 2017) was as follows:
March 2017 Estimated Cashflow for next quarter:
$1,000,000 Exploration costs
$350,000 Admin costs
June 2017 Cashflow (actuals):
$175,000 Exploration costs
$637,000 Admin costs
This coming from a company that "is a mineral resources company focused on the... exploration of key, demand driven commodities."
Clearly they're more focussed on lining their own pockets than actual exploration. How can cash flow projections over a 90 day period be so wrong and with no explanation. The CMY directors' priorities are there in black and white.
And that's before we even get into the loans.
CMY Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
