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- 4 February 2006
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Take care - I spent a few years in mine development and the terminology used in this post last august can mean anything - and even when they toss money at it to fix (which they are doing) can still have reflected problems during operations.
"Management emphasis is being placed on minimising both schedule and cost
increases.
To achieve this, the Project Management team has been strengthened by the
introduction of new and additional expertise to address and overcome some
deficiencies particularly in project construction.
Contingency and corrective action has commenced. The detailed impacts on
project schedule and capital cost are being finalised and will be released when
available.".
With field experience at a premium, with the sheer number of projects happening - someone has to get the chaff
the share price is still falling on reasonable volume
I shorted after the above ann and have a target in the 150/200 area,
I find Westpac analysis quite good so that should mean other prospects are looking good for CMR and they would be thinking that commissioning problems must be under control but no-one can be sure of this.