Some comments following the news release and PDAC
posted on
Mar 11, 2011 01:20PM
First, I am not in possesion of any material information.
1. I believe the crusher failure to be real and not contrived. Yes the language of the NR was particularly, excessively and unusually negative.
2. It was confirmed that Peter Ball is no longer with CMM.
3. Management provided information that as they have been moving forward with development they have been discovering significant new mineralized zones that they did not know existed.
4. The failure of the crusher, although disappointing and unexpected, is always a possibility in the mining game. By comparison this hicup is miniscule when compared to the recent explosion that shut down half of the smelting capacity of the Vale furnaces in Sudbury...thus drastically reducing production capacity for many months.
5. The Conf. call on Feb 4 and 2010 production results reported on Feb 3 occurred before the crusher failure on Feb 9.
6. IMHO the fundamentals have not changed ....in fact the new gold discoveries have increased their capacity to produce gold.
7. I was impressed with Adrian McNutt. He seems like a straight shooter and is an experienced miner.
8. Both CMM and WTG have a special meeting on April 12. Now CMM is haulted. Do you think their is an offer coming??????
9. Glad I didn't get caught up in the selling frenzie following the NR.
SN