I’ll try answer everything from memory so appologies if I’m off...

I’ll try answer everything from memory so appologies if I’m off on a little on numbers.


CMM had a spectacular run from under 1c to 17c when they changed from Malagasy and started to focus on gold in wa. I am holding since Malagasy days. What was pretty much established by the peak of 17c was that more or less we would have reserve of about 1.1 m/t and an average grade of about 1.1 g. Whilst the grades aren’t that impressive the strip ratios are very low .

Since the peak the focus has been on moving from inferred resource to Jorc confirmed reserve with a life of mine of about 7 years.

For a stock that isn’t overly interesting to the market confirming what we already know . Hence the slow decline of the sp to about low 5s more recently.

Also CMM needed to set up offices and generally add to the team in order move from exploration to eventual production. At about the time of the recent 5 c dip we had a capital cost of about $130m to move to production . For some investors that raised concerns about the viability of the entire project.

Since then we have signed a deal fixed cost of production reducing the original estimate by about 26%. Additionally we have continue drilling in other areas and are finding more gold and better grades albeit with an increased strip ratio.

This quarter we are expecting a revised maiden reserve to POTENTIALLY double with more drill results on the way. On the flip side we still need to raise the money for the construction which will be a split of a raise and dept from my understanding .

Production is due for sept quarter 2019 and with more drilling and reserve upgrades taking place over that time we will better fully understand the land we own and justify a higher sp. however in terms of the stock market for many investors sept quarter 2019 is a long time for a hold when a raise is coming.

Now I’m chartist and I like the FA on this stock because I have patience, however what the chart tells me IMO is that someone last week wanted to start to take a large position and I expect the stock price to recover to that 8c level very soon. The real question we need to answer is why did they do that?????


Hope that helps AIMO.

GL