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Maybe you are correct about share price...but mark my words...there is big money in medical Grass. Very big. My brother had cancer and was awarded the ability to buy grass by his oncologist in Canada. The price is the same as on the street...high high high. And he bought.

 

Mostly because he likes a toot now and then, not for the pain....and this is quality stuff.

 

 

 

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So as I see it they're going to pay all up around 46 million dollars for their 49% stake and the other acquisition. Suggested with these funds it'll make around 20 million CAD basically the same AUS.

 

So CMY'S cut is 10 million dollars. It doesn't mention costs except they'll end up reducing them by 50% and increasing the quality of the cannabis by 30 to 40% which will help the end line.

 

Would love to know the profit margin. CMY to be consolidated probably I'm guessing 20 plus to 1.

 

From my side of things the jury is still out until a better picture of the current workings is given! I assume CMY share holders will get a priority holding ability for the new venture.

 

As usual pdyor as I may be incorrect with the information and stand to be corrected! :biggrin:

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  • 2 years later...

WOW - just read their response to the ASX Appendix 5B Query, in relation to the payments for exploration and evaluation; and administration and corporate costs disclosed in Appendices 5B for the period between 31 March 2016 and 31 March 2017.

 

$3 mil spent on administration and corporate costs 9 months YTD, and $641k on exploration & development. Get a load of those "consulting fees"

 

http://www.asx.com.au/asxpdf/20170706/pdf/43kgkgpkfy9y0w.pdf

 

Had a look at their last quarterly and they seem to be into everything that's currently "hot" - lithium, cobalt and more recently medicinal cannabis.

 

 

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ASX probes Perth explorer Capital Mining's fat cat payments :lol:

JULY 11 2017 - 11:00PM

 

Three directors of Perth-based exploration minnow Capital Mining have been forced to hurriedly rearrange their remuneration structure after the Australian Securities Exchange inquired into discrepancies in the company's expenditure.

 

The ASX has forced non-executive directors Peter Torney, a former stockbroker, and corporate advisers Peter Dykes and Anthony Dunlop to reveal just how much they were paying themselves and their "consultants" as directors of the company, which has a market capitalisation of $4 million.

 

According to documents Capital Mining supplied to the ASX, in the last four quarters Mr Dykes, Mr Torney and Mr Dunlop were paid almost $4 million in directors fees, including $2.1 million in consulting fees to a firm called Chapmans Limited, incidentally run by Mr Dykes and Mr Dunlop.

 

The juicy fees are in stark contrast to the $650,000 that has been spent on actual company activities, which are currently focused on the exploration of lithium in Western Australia and the Republic of Ireland.

 

The ASX was concerned about how the company was spending its money, given Capital Mining had estimated far greater payments would flow to exploration and business activities and severely underestimated that which would flow into salaries.

 

Capital Mining responded to the ASX pointing to the costs associated with assessing new acquisition opportunities

 

"These costs included consultant fees and travel costs," reads the company's reply to the ASX. It points to the acquisition of assets in Ireland and Western Australia.

 

On Tuesday, shares were trading at 0.005ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢.

 

http://www.theage.com.au/business/markets/...711-gx8qkn.html

 

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RESPONSE TO MEDIA ARTICLES

 

Capital Mining Limited (ASX: CMY) (ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“CapitalÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ or ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ) acknowledges the

recent media articles in relation to the Company and provides the following comments.

The article published by The Sydney Morning Herald erroneously classifies payments to

Chapmans Limited as directorsÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ fees. Both Mr Dykes and Mr Dunlop are directors of ASX

listed company, Chapmans Limited and all payments have been disclosed in CapitalÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s

financial statements. The Australian Financial Review incorrectly states the total

directorÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s fees.

 

The Directors of the Company reiterate that they have at all times complied with their

obligations relating to continuous disclosure, including the remuneration disclosures in

the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s annual report. The remuneration report was most recently approved by

shareholders at the 2016 AGM with 84% of votes in favour.

 

Notwithstanding this remuneration disclosures and shareholder approval, the directors

have elected to reduce their fees by to 50%, as announced on 7 July 2017.

 

Capital has continued to inform the market of its efforts to review opportunities in the

cannabis section, via its subsidiary company Capital Cannabis Limited. Despite The

Sydney Morning HeraldÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s comment that ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¹Ãƒƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“no such opportunities had appeared yetÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢, the

Company is making strong progress and is confident that it will finalise a potentially high

value opportunity in the cannabis sector in the near future.

 

Mr Torney and Mr Dunlop are currently in the USA on business, related to these

acquisition opportunities. Mr Dykes is also in the USA, on vacation at his own expense.

 

The Directors of Capital reserve their rights against publishers of inaccurate and

misleading information in relation to the Company.

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I was suspended by hot copper as CMG lawyers threatened then as I was telling truth about these directors and there company bleeding funds. Cross reference cup and rfn same directors same story zuckin them dry too, now you can see how dkykes can afford poker in Vegas. Be careful wat and how u say posts. Hot coper got that rattled they removed whole thread and suspended me. Invested be aware
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