I guess the market will tell us how confident they are in CMM coming through this one. Equipment failures happen and are not an indictment on the management team. The bigger question is what about cash flow? I now think that the special meeting takes on a whole new meaning. This special meeting was scheduled after the equipment failure was known.
I think an offer at .85 cents will now be seen as extremely attractive for alot of people!
2 comments:
This Smells like a calculated stratagy to steal the Company out from all the investors.
I agree with the smell test concern. Of a particular note, no reason for the cone crusher failure is given. My guess is that the failure is attributable to tramp iron, industry term for something like a miner’s pickax or sledgehammer head, jamming the cone crusher mechanism. Along with identifying the failure mechanism is a need to answer the question, “What is being done to prevent a reoccurrence?”
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