trador,I suspect they had a credibility problem or disagreement...

trador,
I suspect they had a credibility problem or disagreement with Lodge. Lodge did the previous raising, but maybe not happy with CMC's failure to attempt Phase II or even communicate a new plan, so they took Lodge's report off their site...just speculation.
Late 2011 Lodge had A 12 month target of 70c, with base case NPV of $1.38 for cashflow out to FY 2014, so well beyond Phase I.
Seismic had a valuation of $1.04 with production at 20K tpa only.
CCZ had a DCF valuation of $2.05 using prospectus forecasts out to 2015.
If we could have a concrete plan, other than prospectus dreams we could get a handle on this thing.