They have sold a great chrome ore deposit for 'chicken feed'. No one is interested in CCI now.
I'm glad I sold out for 25 cents, I'd always hoped that they would go to production. CCI management are a pack of idiots, who didn't understand the market for chrome ore.
Move on, and forget about it. My suggestion, look at RML they have a great chrome ore deposit with PGM's as well as 72 million tons of nickel (830,000 tons of contained nickel). They have a drill rig now proving up the PGM's including Rhodium. ( US$9000/oz).
Sell one CCI share and BUY one RML that is what I did.
Chromium – Prices for chrome ore were around US$300/t in Q1, US$500/t in Q2 and now close US$700/t for Q3 according to Metals Bulletin. This implies that South African ferrochrome producers that are unable to reach desired production levels due to power limitations are likely to be making good profits from ore sales if they have mines in operation.
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