Instos dont like to see minority shareholdings especially if private. This was long overdue and a win / win for all involved as should always be the case with Olympians.
JPs track record is faultless and he has been with CMR projects from day 1. Only fitting he should assume the #1 shareholder spot again and add further Ozzie presence on the register .... was feeling kinda alien there for a while.
Btw in answer as to why the yanks aint treated with the same FIRB rules is cos of our bilateral trade agreement which kinda makes us one of their "provinces" and thru which we have given them Ozzie "naturalisation".
This move was kinda alluded to by GT at AGM when he said no more shares would be issued unless for corporates. Well here it is I guess ....... and our share cap goes to 123 mill (a fitting number , like steps 1.2.3 ...toward the grail) with now 50% of the base metals free carried (subject to the Chinese also gaining Ozzie naturalisation ... bring them all in haha) and MORE IMPORTANTLY for mine, 100% of the Uranium. Instos both foreign and now local will love this.
One other thing I would next expect given we voted on expansion of directors fees pool as well, is the appointment of JP to the Board assuming he wants to ..... and why wouldnt he since he has now signalled full approval of CMR's path to coming glories. That too would be taken as a major plus by our local boys.
JP has a track record of discovery, development and divestment at a healthy premium to majors once maturity is reached. Remember Normandy, Aztec, Golden Grove, Forrestania, Dalrymple etc etc.
I am very happy with all of this and look forward with greater expectation now as the final remaining loose ends are tied up. Baby is growing up fast and now acting more and more like a market leader. Technically starting to bear similarities to FMG chart now as well.
Lets see what initial Mt Fitch U-JORC figures look like and what moves accompany, cos wanna sink my teeth into some back of envelopes for what should be the next hottest uranium development program globally for mine ....... and its imminent. Wanna see an approvals application progress start cos then I can have something serious to say again, now that oxides have been put away and sulphides deals being finalised.
Hope Olympians who missed out first time took up the opportunities of recent firesale. For them who departed, thank you for your work to get us here and may u R.I.P
IMBOOC
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
