More relaxed now on this as they propose to keep CMR going, not a new entity.
Operator of mine can be appointed by HNC but that does not mean CMR will lose their JV interest, it is just who carries on as manager. They would have this right under JV agreement when CMR went into VA, standard in JVs for operator/manager to be removed in event of insolvency
Director issue is minor, all new appointments have to be ratified by shareholders at first AGM.
I see why no progress to date at site as DOCA has not been agreed to by all parties, HNC won't tip in until all creditors agree, looks like Mexican stand off at moment.
I can see that HNC appointed R&M to give them more bargaining power over septics and your brilliant chairman.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
