CMR 0.00% 15.0¢ compass resources limited

resource upgrades or possible downgrades

  1. 422 Posts.
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    I bought the CMR story big time last year - and have consequently pushed back my planned retirement age by 10 years so far...

    The following isnt a troll by any means but I want to ask how we can be so sure and confident of significant resource upgardes over coming weeks. Why?

    - The latest change to a CMR resource was an actual downgrade to Uranium earlier this year if I recall correctly. Hope this isnt a a precedent!

    - Mgt credibility last 1-2 years is VERY low. Numerous cost blow outs and time over runs for oxides, poor communication and consistently performing below expectations in many ways (eg the Alfie article linked here recently talked about expected Sulphides upgrades over 18 months ago!).

    - Its seemingly a HIGHLY manipulated stock with massive unexplainable movements from week to week (or even day to day). I have personally not seen anything like it in another ASX300 Company. I am certainly no chartist, but recent share price movements really give me no confidence that good news is on the way (ie 20% gain in last 2 days on smallish voume)

    - A significant part of the current sulphides resource is indicated or inferred. Im not sure how these %'s compare to other similar Coy's but surely it would provide more comfort to have that measured component locked away nicely.

    Assuming resource IS increased, or held the same, lets hope Environmental survey (the issue of lead flowing into adjoining river) and Metallurgical considerations are not game stoppers.

    I would welcome Olys, Cuzos and other experienced posters views on the above. And trust me, I hope as much as anyone that the 80MT Sulphides doubles!!

    Cheers
 
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