Re: NEWS OUT ON THEIR SITE AS PROMISED
in response to
by
posted on
May 15, 2010 12:21AM
Like many others I was very disappointed that CMM would miss an important deadline like the financials just when Ms Kent was starting to redeem herself. It is not as if they did not know the deadline was approaching. This shows a lack of attention to detail.
As a retail shareholder, I never lost faith that CMM will be a winner within a year at most. I did not sell a single share (while trading was still available). I certainly will not be selling on Monday.
However, this was an inexcusable gaff that unfortunately has set CMM back several paces, in my opinion.
We may never know what the internal consequences are but the new owners will not be very happy if they are as successful and competent as they are advertised to be.
They are in a tough spot however because Ms Kent owns a lot of shares and will still have something to say about how things are run even if she is no longer on the management team.
As someone else said, the analysts should be outraged by this. They control large blocks of shares and can decide to move investors to other investments quickly. This is the kind of thing that causes them to lose faith.
On a positive note, the future looks bright in spite of this setback in image.
Lamaque production will be ramped up significantly. The Bedard Dyke looks promising and lots more (45,000 M) drilling to come. Peru will get some much needed newer equipment that should help productivity. There will be exploration in Peru.
To me the most exciting part is the fact that the new owners have plans and money to take CMM to another level through acquisitions. Lets hope this happens very soon.
Of course all of these targets are just that for now. The problem is that the financials were a target and it was missed.
This has now planted a seed of doubt in everyone's mind that the other targets will also be missed.
Lets hope all investors see the value in this company and are prepared to give Ms Kent one more opportunity to show she can stay focused and make good on her commitments. That is if she is still with us on Monday? Any bets?
SN