Oly"IMO Only way GT would put so much of his on the line is if...

Oly

"IMO Only way GT would put so much of his on the line is if he already anticipates his exit path and that for mine would be later takeout by HNC."

IMO this has been THE end game since GT first introduced HNC. If you recall, they got their 50% of the oxides at way under the odds of the day + the 'terms' were also loaded heavily in their favour (cap on their % of costs etc)

I doubt very much that:
"GT is keeping HNC "honest" and after all wasnt his fault market crunched us down"

True it wasn't his fault/design how the market went, but it sure has been a godsend for a control plan.

IMO, GT set himself as HNC's agent from the start.

The trail of events since they joined the register are implausible under any other scenario.

With the massive push upward of commodity prices as CMR was due to produce sut have been set to scuttle the whole plan (ie affordable take over) so all of a sudden, just weeks from completion, the virtually new plant developed as yet unspecified problems.

It is inconceivable that there were supposedly no plans for the re-constructing of the plant. Even if they didn't make a 'mud map' while deconstructing it in the first place, the original engineering plans would surely have been sitting on the engineers computer ! It's laughable that GT got away unquestioned on that point alone.

Then there was the raising of the stand by loan at a time where CMR should have had $60-80m in the bank ..... on the grounds of building a 'war chest' !!!
Some war chest, more like a Trojan Horse !!

And of course let us not forget the current millstone around the neck of the trouble extracting cobalt etc, which makes the specter of C&M seem possible.

No, this last 2 years have actually been a dream come true for HNC. All the planets have lined up for them & then some. As a punter I'm sure you recognise that where there is smoke, someone has struck a match.

For mine, the most likely scenario is that once the EGM is over and the good ship CMR has been sold, the plant will be cured of its 'bugs' & CMR will stop hemorrhaging.
The float off of the other assets will go forward & CMR will have some cash in the bank again & that along with the now positive cashflow from the oxides will fund the sulphides fs + further exploration (I recall a geo friend who lives near Bachelor saying 3 years ago that Area 55 was CMR's best card ... & also, interestingly, that Mt Fitch would never stack up!!)
The combined HNC/GT block will make CMR virtually a subsidiary of HNC without any pesking foreign investment review board rulings.

There are 2 further pieces of the puzzle that fit this scenario.

1. Where did Coffee House find its $25+m cash in such a tight financial market .... remember GT sold all his shares (including a swag of FMG BEFORE they really took off) to fund his Mayfair Mansion (at the absolute peak of the UK property market !!)

2. The chatter along 'The Terrace' that GT is strongly focused on a private Brazilian I/O play that would no doubt require a lot of capital & time in the near future.

Again, to coin a racing truism, ...... if you want the truth, follow the money.

Timing wise, it may be more instructive to watch HNC's share price than CMR's for a sign of the next wave approaching