Hey Yatchy, how did the AGM go? Without doubt, the market knows...

Hey Yatchy, how did the AGM go?
Without doubt, the market knows that CMM will need cash soon, but I believe they will at least wait until the next round of drilling results are out (drilling started this week I think). So.... results out around the end of Dec?

Not the best time to be raising capital, but... what can you do I guess.

I do like the company, and in many ways its undervalued, but... the capex of $146m is just so big. I almost wonder if management would be professional enough to bring in a partner? (sort of like GOR did with Goldfields, but on a smaller scale). As surely its better to become a producer that just continue to dilute dilute dilute? Plus, which the broker reports are all very positive about them raising perhaps $60m in cash, I honestly think its just too big a number for CMM right now, even if they prove up another 2-3 years of mine life by June next year, its going to be such a big task.

Anyway, I cannot buy in, even though as I said, its cheap, but its cheap for a reason, plus, it will likely stay cheap for at least 6 months while they keep trying to find a way to complete such a huge capital raising.

I do think they will raise perhaps $4-5m soonish, then... just hope that the POG jumps up big time, then they can redo the pit and add the extra 200-300k to give them a 10 year mine life. Perhaps that will pump up the shares enough?

Good luck to all holders. Wanna be developers are not 'exciting' right now, instead its pilbra nuggets, or Lithium, or cobalt... etc.