CMM - no sale
I agree. It is cheap here and they have had some good news on the court case lately but as I already own some, I wouldn't buy any more even at these levels.
I don't think they will post a profit this qtr.
They have lots of properties and quite a few of them on the go but each has it's own problems. Perhaps that is why Peggy can pick them up at firesale prices.
CMM needs time, money and some good personnel to start making a go of these properties. If they could even get one going well, maybe it would be enough to give them some momentum.
Peg keeps trying to deal her way into profitability. I wish her luck (and me as a shareholder) but there are enough other good opportunities out there (like NGG, SGR, and EPM) that I will pass on any more "opportunities" to own more of this one.
I prefer SGR because of the world class grade and location in North America but even they have been slow on delivery. Doesn't seem like you can put together a gold mine with good grades,good management and the right amount of funding. Sorta like a golf game. You never find the right day when you are driving, chipping and putting well all on the same day. The closest you get is two out of three.
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
