who is selling : joshua pitt may be

Todays activity was certainly unsettling.

CMR can be a strange stock to hold at times .... it falls when the rest of the market rises and rises when the rest of the market falls.

Also, director and key shareholder sales have occurred just prior to good news - why wouldn;t they hold a little longer and reap the rewards. Strange behaviour and difficult to predict.

What we do know as fact is that they have at least AUD$15B of inground high-in-demand assets - copper + nickel + cobalt. We also suspect that this is likely to double or triple as further drilling exposures the treasures beneath - AUD$15+B or $30+B or $40+B ???

And what about the Uranium ..... maybe $100M lbs .... as least the same value at PDN.

And what about the Zinc, Silver and the rising star LEAD.

What about NSW and Peru?

With a market cap around $600M to $700M, I am not really worried if the Chinese JV doesn't go ahead. I am confident CMR has the delivery team to achieve outstanding shareholder value.

IMO, CMR is still a great investment opportunity.

Please do you own research.

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They need a really good PR person though ... they don't seem to have much idea about how to market the company.

On top of that, the directors don't seem to have any idea of how to sell down their shareholding in a thoughtful manner ..... they are good at dumping the stock and share price and p.i.ss.ing off us smaller shareholders.

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I had a look back through the CMR ASX announcements and I revisted the ones related to Joshua Pitt / Guadian Resources. You may recall that he sold a bundle of CMR earlier this year to put into another of his investments, PPP for their upcoming exploration program.

I did some research on PPP and NZO tonight as these two companies are involved on some similar projects. I noticed that NZO just completed a capital raising. NZO has a major shareholding in PPP.

Perhaps Joshua is redirecting some of his investment funds from CMR to PPP or NZO? I am only guessing.

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The CMR ASX announcement of 23/11/2006 states:

"Final joint venture documentation is well advanced and HNC advise that the transaction is still subject to Chinese Government approval."

So perhaps we want receive any money from HNC / China until this approval is achieved.