As a regular reader of all that is CMM I have found myself getting swept away in the buzz of takeover chat that’s dominated the 2 blog sites over the past couple of weeks. I for one have come to realize that I’m in danger of not being able to see the forest from the trees. Real Economics, RE, March 1st note on “why I’m buying” helped bring me back down to earth again and focus back on why I bought into CMM in the first place. As suggested by a writer this week with all the take over chat many new and potentially short term investors may buy into our company. If a bid does not happen over the next 4 to 6 weeks that money can and likely will leave as quickly as it arrived. I would prefer that some of it stayed, all is dreaming, as I’m sure all of us relative long termers would.

I bought into CMM in October 2010 at $0.45 cents after some 3 months of DD. I took so long because I was trying to find the angle as to what kept the price so incredibly low in relation to its peers. With so much gold in the ground and production having just commenced why was the company so undervalued? I eventually concluded that as so many earlier investors had had their fingers burned, including no doubt many institutional investors, due to unfulfilled promises, or at best very delayed, the SP was in the hands of us retailers. Clearly the lack of a skipper was also weighing down on the SP. We were a bit like a rudderless ship with a very valuable cargo on board but watchers were not at all sure were we were heading.

Well now we have a competent experienced skipper and we know where we’re going. He’s told us in the conference call. In addition the POG continues to rise as do the world’s leading stock markets. There was one particular part of the Conference call which brought music to my ears and that was when Daniel Major said he would start approaching institutional investors in April. One quarter of hard work, a more thorough understanding of the Company and its resources, and then off to market the company.

For those new to CMM bid or no bid this is a very serious and will be an enormously profitable company and investment for you. I believe that it will not take Mr Major very long to attract new and large investors. My time horizon was initially until the end of 2012, clearly reassessing all along the way. For me the Fundamentals have not changed if anything they have even got better. As a result like our colleague RE I have been buying more over the last week.

It’s been a most interesting and profitable journey so far. Welcome to the newcomers and join the ranks of the converted.