Post by highhair on SH
I spoke with an inside job today and here is what the latest is. Hopefully some of you can get your questions answered from this.
1) Again, as alot of us already know, the PP is done and the monies in the bank. But you havent heard in the press that it is official because THE PAPER WORK IS JUST BEING FINISHED. Whenever a delay occurs in a PP its either a money problem, or a paper problem. Its a paper problem for us. Dot the I's cross the T's. Best estimate is tommorow and worst is next week. No worries.
2) There are 2 major shareholders US Global, and RAB. Together they have been dumping shares, but each have different initiatives. US Global is just cleaning up there books, and nothing more, they love the co. but can no longer commit the funds, as they will be entering new companies. RAB on the other hand, is experiencing major net redemptions on alot of there mutual funds. They can no longer hold CMM shares and are getting them out the door as reasonably priced as possible. thats why we are range bound $1.40-1.55. The redemptions they are experiencing are fierce and they must have the sufficient funds upon settlement or else they are in trouble. CMM has contacted RAB on a number of occasions to get rid of the overhang and they will not cross. Research Capital has contacted RAB, but they will not cross with them either. They are desperate to recieve the few pennies more that they can. RAB and US Global have a combined 3.7 million shares to go before this dumping is over. RAB has less, around 1 million give or take. US Global is in less a hurry but are selling. Both are using CC (sometimes) as the middle man. Average daily volume on CMM is 500,000 shares give or take a few. 3.7 mill/500,000 = about 15-20 tops to clear these guys out.
2) We are all anxiously awaiting news, and there is big news coming and once it does, we should move nicely. There have been a number of Bay St. biggies informed by CMM execs this past few weeks on the company and all are really interested. News will be released conservatively, as it is all "very powerful" news (words used by source)and CMM does not want it to be diluted by RAB and the boys selling antics and save investor confidence.
News that is coming includes:
- closing of PP official notice.
- Erika news: inbox me
- Q1 results
- Full year 05 results
- San Juan resource 43-101 news: inbox me
- Further Acquisition news: inbox me
- Golden Cham: inbox me
And much much more. Cant wait. Peggy is there and tying up a few loose ends and all is good.
Additionally, reiteration on 07 entry production target of 230,000 oz's (150,000 Sigma/Lamaque and 80,000 oz's Peru) at a consolidated cash cost of around $270 USD. Guys/Girls, run some figures on this #!
As this consolidation period is entering its last phase, it is time to make a decision on your investments, go large or go home?. This is the last time you will see these prices and you have no more than a month. Good luck to you and I am sorry for not disclosing all but got to protect the integrity of the board, investors, CMM, and myself.
Long CMM
HH
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