great thread.
new holders should be aware about what has happened with this company in the past
last year, the directors of CMY gave the impression they were courting the directors of the company RFN
the directors & associates of RFN, namely, 'D4', bought shares in CMY
last year, the little helpers such as
@Smokedog were posting heavily in this forum how the RFN & 'D4' would mostly likely vend a tech play into CMY
the share price pumped to 2.2 cents
the directors of CMY were buying on market at around 1.5 cents
but the RFN & D4 people decided to sell their shares one day (or more) at 1.2 cents (or so)
the CMY share price collapsed
but CMY (according to Hot Copper) got new investors to invest heavily at 0.7 cents, who included a company run by
Peter Wall
but the CMY share price kept falling further & last week the ASX introduced new rules to suspend & scrutinize 'backdoor listings' or 'vending' of acquisitions where there is a significant change in the nature or size of the company business
so on Friday, CMY announced it was acquiring new 'lithium' tenements from a certain company & reimbursing some costs for that company
according to my ASIC research, the directors of the lithium companies are a
Peter Wall & associates
therefore, it appears, if these 'Peter Walls' are the same 'Peter Walls', the company directed by
Peter Well has sold lithium tenements to CMY when
Peter Wall's other company was sitting on a 43% loss on their CMY investment
on Friday, the volume of shares traded was equivalent to the entire CMY share capital
Peter Wall was no longer sitting on a 43% loss but now, at times, a 43% gain
in the past, CMY experienced large shareholder selling due to what appeared to be a falling out or collapse of a proposed deal, which was not explained to the shareholders & market. shareholders had no idea what happened
therefore, given the massive volume of trading on Friday, which only closed 33% above the opening price, i think it would provide me with some transparency as a prospective investor if CMY published a new Top 20 shareholder list as at say 20 May 2016
welcome to CMY
