We all know what a successful year Fortescue had last year and their share price very vividly reflected what they had done to change the market's view on them. What's Fortescue got to do with CM8?
Well, it did what the market was waiting for it to do and rewarded it very handsomely it...
"Cost cuts key to Fortescue boom STEPHEN BARTHOLOMEUSZ
Behind the result is management’s ability to effectively squeeze costs and in doing so lever down a company built on debt."
Nobody here should deny that CM8 is seen as "a company built on debt". No doubt and that's why there are no buyers and the SP is so low. Debt!! So let's see how the market responds to when management significantly reduces CM8's debt.
CM8 Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
