Fair call Lefevre. I too used to hold it for quite a while but luckily got out a lot higher than it is now. The reason i got out was the same reason you sighted - management. I found them very approachable early days however as time went by and I started to ask a few tough questions, I was quickly put on their ignore button. I don't mind the story but that was an early warning sign. The lack of detail makes it tough for shareholders considering it is on the other side of the world and not straight forward like some other stocks. They're selling at the gate but not once have they told us how many tonnes they have sold and at what margin. What has happened to the JVs with car comapanies etc?? As for the options, my understanding was that it was a good thing for shareholders (though have to admit I can't remember the deal off the top of my head).
CMC Price at posting:
27.0¢ Sentiment: None Disclosure: Held
