Butcher, i know what they had in there report. Lets have a look at what they are actually doing. And what they have achieved and not achieved.
1....I don't know of too many Australian companies out there who are set up and are mining or doing business in China.
2....I,m sure they set out to achieve what they stated but i believe they had some very near calls to be shut down due to the new change of government, massive change in environmental rules and a glut of production caused by a general downturn in commodities at that stage.
3...Doing business over there is not like in Australia it would be its not what you know but who you know style. Hence Fengyan life line...
4....Commodidties have rebounded and i think there was no need to go all out and ramp up to 120 thou TPA, it would have been irresponsible for the whole market.
5....They have re configured there process for efficiencies.
6.....They have not gone under and consistently raised capital from the public they have always been fully backed by directors etc, unlike the many terrible penny stocks out there. I have CXX and HRR sitting there waiting to get funding its a tough market out there.
7 April will confirm if they are cash flow positive....
8 ...i have not sold 1 share i believe they will be successful now more than ever as they have gone through the hard yards and now are in the lithium space and who knows what other things these guys have up there sleeve...
CMC Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
