Do you for one moment think that the much fan fared co-op agreement was cancelled on CMCs instigation. I think not. I would rather suggest this was managed and executed by Fengyan, no reasons given always is a bit suss.
They bankroll CMC for the time being, but if and when the time is right for them they call the debts in, which CMC has absolutely no hope of serving and they take us over for a basically nothing. Not that there is much to take over anyway. However it gives them a good tax loss and maybe they get some coins for the machinery and equipment. Maybe they are after the trading desk and its connections with access to foreign currency. Maybe?
CMC Price at posting:
1.1¢ Sentiment: Sell Disclosure: Held
