trador, I suspect they had a credibility problem or disagreement with Lodge. Lodge did the previous raising, but maybe not happy with CMC's failure to attempt Phase II or even communicate a new plan, so they took Lodge's report off their site...just speculation. Late 2011 Lodge had A 12 month target of 70c, with base case NPV of $1.38 for cashflow out to FY 2014, so well beyond Phase I. Seismic had a valuation of $1.04 with production at 20K tpa only. CCZ had a DCF valuation of $2.05 using prospectus forecasts out to 2015. If we could have a concrete plan, other than prospectus dreams we could get a handle on this thing.
CMC Price at posting:
13.0¢ Sentiment: None Disclosure: Held
