Unfortunately the share price tells a story of a public company run by directors who regard the company as their own private entity. They have atterly failed to communicate with shareholders. They have changed long term plans at will such as the finalisation of Phase II due the end of 2012, and have sought out other 'verticle integration" ideas without any communication to shareholders. There is no documented plan or blueprint for the future that is presented to shareholders or brokers. No wonder shareholders are giving up and selling at a loss. There is no credible financial forecasting possible. No idea what the future is so brokers cant promote without long term plans. At least the directors do have a serious holding and must be aware of the situation. The half yearly should shed some light on the situation hopefully.
CMC Price at posting:
12.0¢ Sentiment: None Disclosure: Held