Deadline today 4pm if u plan on faxing in any "Proof of Debt Form" claim based any belief u may have been duped along the way and hence using the SOG precedent to claim equal rights. Remember to also follow up sending in originals.
U find this in the notice to creditors link at bottom of the FH page .... 25 page explanatory pack ... single form is abt page 11 - 12 I think.
Check back a few posts and u will find it in here ... thx to whoever posted it, maybe u can re-post as a refresher.
Meanwhile POCopper starting to move up again with Baltic Dry Index indicating China starting to restock again (?) at the lower metal prices. The C-note holders will want fast resolution of whatever claims cos it might get embarrassing if the oxides plant actually started making money hey?
And "lucky" the Cobalt circuit aint yet oprational too (?) ... lucky if u r a foreign predator looking to carve up the bits in time that is ... thats a "without prejudice" bit of imaginative speculation under the influence of cosmic smoke of course.
Reckon this "B" primary retrace wave in commodities has been the biggest manufactured conjob in a long while (only surpassed by the current strengthening USDX conjob for mine) and allowing cashed-up spivs to take advantage on a global scale. Called global system survival stakes and the pleb shareholder is caught in the middle and fading into insignificance.
Lets see what true colours the three FOREIGN creditors next show as they "negotiate" with the administrators. "Course they can next vote to appoint their own nominated administrators if they dont like this one. Our only "chance" of anything lies in the hope the 3 foreign creditors are truly independent and jostle for advantage against each other. I further wonder how our major shareholders are thinking / acting ... Josh Pitt, Harbinger etc
And lets see what MEDIA makes of this and what POLITICOS end up saying about this DISGRACEFUL state of affairs that some may believe has been accidentally induced cos of prevailing "market conditions". Even on that point u might ask why we, the public company weren't in a ready state to avoid. Thats another key issue for mine.
If the three main creditors ... which include our Chairman and our "friendly" JV partner do NOT move favourably for CMR ordinary shareholders, then one will have to start delving into the potential "conflict of interest without prejudice" stakes next.
It remains so odd to me that two of the main players in this administration are in fact same who wanted to have their debt equitised at 42c, only to have that rug pulled from under our feet by one of them at the last minute ..... sheesh what about them who left all to attend the EGM expecting to vote on this !
GT brought in HNC and Cornell. These three are now the main players talking to the administrator whilst we the ordinary Ozzie folk stand by numbed and wondering what happened ... one minute we are there planning for future divvies, the next we are there holding an empty bag without even having a courtesy call to ask if we wanna to help preserve our assets and dreams !!!
Media is going to have a ball on this depending on what next methinks. And politicos are going to be tested re their loyalties as well methinks if this goes the foreign way. We Ozzie plebs are so stupid and naiive sometimes methinks.
Hope there is no need for litigation cos only lawyers come out resaping the benefits in such case and reputations might forever end up tarnished. I dont think anyone really wants to go down this path. Then again we are talking about future billions of dollars here, so pretty tempting maybe, and who knows what everyone wants to do next.
From a shareholders' point of view, UGLY state of affairs that should NEVER have been allowed to reach ... adds to further thoughts re performance of duties on many fronts.
Anyway u have til 4 pm today to fax in any "registration". Probably means that even if a future court order established yr rights as having some say in the company's future, a legal technicality of failing to register by a strict deadline might mean u r excluded anyway.
Oz current laws re such matters are IMO grossly deficient and need immediate revamp while we still retain some ownership of our own Ozzie assets. Otherwise u better learn mandarin fast if u wanna be able to communicate with yr new landlords.
A sad moment's thought for the bushfire tragedy and victims and their families.
All of above musings are "without prejudice" of course and food for thought ... good educational experience fo rthem first time players. The share market is like a shark pack ... if one of the pack gets wounded and the others sniff the blood, they will turn on it. Nothing personal, thats business JR !
IMBOOC
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
