CMY - Capital Mining

[Miner]

Just took a short look through the forums, and noticed that there is not much on here regarding CMY
for the last few years.
Is anyone following their sudden change in direction to Medical Marijuana ?

Welcome to ASF with your maiden post.
At the outset I do not know why CMY changed from mining to marijuana. There is no link excepting both start with M and mining industries officially do not allow their employees to be on Marijuana
My only guess would be the company did not have conviction on its own. The vision of a mining resources did not have any synergy with acquisition of marijuana production. It is not located at Vancouver where medical marijuana is legal. If you see REY started with coal, failed and started with oil and gas now. REY is still in resource.
Sorry - no direct answer from me excepting with no clear direction, involving with marijuana gives a press exposure and helps the company winding up easily without making any shareholder commitment being highly speculative to return on investment from shareholders. Once it was recommended by a money weekly

 

[cthaffy]

Welcome to ASF with your maiden post.
At the outset I do not know why CMY changed from mining to marijuana. There is no link excepting both start with M and mining industries officially do not allow their employees to be on Marijuana
My only guess would be the company did not have conviction on its own. The vision of a mining resources did not have any synergy with acquisition of marijuana production. It is not located at Vancouver where medical marijuana is legal. If you see REY started with coal, failed and started with oil and gas now. REY is still in resource.
Sorry - no direct answer from me excepting with no clear direction, involving with marijuana gives a press exposure and helps the company winding up easily without making any shareholder commitment being highly speculative to return on investment from shareholders. Once it was recommended by a money weekly

Hi Miner, thank you for you kind welcome.
Please see: http://www.smh.com.au/business/markets/canadas-broken-coast-cannabis-to-list-on-asx-20150309-13y62e

cheers
Chris

 

[Miner]

Hi Miner, thank you for you kind welcome.
Please see: http://www.smh.com.au/business/markets/canadas-broken-coast-cannabis-to-list-on-asx-20150309-13y62e

cheers
Chris

Hey Chris
Thanks for the link which I read with interest.
I could be called or seen cynical but it was hilarious that " Capital Mining chairman James Ellingford said he is optimistic that future legislative reforms will create opportunities for the business in Australia."
James Ellingford could not dig gold when all legislation exist for a gold miner and now he is hoping for digging drug without a legislative support ? Reminds me that drug is dearer than gold and often law breakers could make more money than law makers. So it is not a bad strategy from CMY if I can say with tongue and cheek.
By the way, I have worked and lived in Vancouver Canada for two and half years. I believe medical Marijuana is legal there. But I did not see any thrist with common man for buying shares of those Marijuana makers .
I hope CMY does well and lets see how the law makers see it.

 

[cthaffy]

Hey Chris
Thanks for the link which I read with interest.
I could be called or seen cynical but it was hilarious that " Capital Mining chairman James Ellingford said he is optimistic that future legislative reforms will create opportunities for the business in Australia."
James Ellingford could not dig gold when all legislation exist for a gold miner and now he is hoping for digging drug without a legislative support ? Reminds me that drug is dearer than gold and often law breakers could make more money than law makers. So it is not a bad strategy from CMY if I can say with tongue and cheek.
By the way, I have worked and lived in Vancouver Canada for two and half years. I believe medical Marijuana is legal there. But I did not see any thrist with common man for buying shares of those Marijuana makers .
I hope CMY does well and lets see how the law makers see it.

Hi Miner.
I lived and worked in Calgary for close to 30 years, and although medical marijuana was legal in Canada for the past number of years, it was about 2 years go that the Fed Govt really opened the gates on it.

IMHO, I believe that CMY and crew, are looking to down the road of GWPH (NASDAQ), which I bought shares in whilst they were at $30 per share

Tasmania to green light cannabis farming, Capital Mining in deal for first licence
http://www.afr.com/business/tasmani...ing-in-deal-for-first-licence-20150417-1mlllp

Tasmania is set to give the green light for Australia's first legal medical marijuana grower, in what is expected to be the start of a new industry for the state. Capital Mining, a failed explorer with a plan to transform itself as the second ASX-listed cannabis company, has struck a deal that puts it in line to be granted the first licence.
Capital Mining will come out of a trading halt on Friday morning to announce it has struck a deal to pay $250,000 in cash and $100,000 in shares for Cannabinoid Extracts Australia, a subsidiary of ASX-listed Atlas Pearls and Perfumes. The venture has an application with the Tasmanian Department of Health and Human Services for a licence to grow medical-grade cannabis for the purpose of extracting cannabidiol (CBD), one of 85 active cannabinoids found in the plant.
The company hired Piper Alderman partner Teresa Nicoletti, a 20-year veteran of the big pharma industry, to lead the process of gaining regulatory approvals for the new venture ahead of expectations of a policy change that will for the first time make it possible to apply for a production licence in Australia.
Tasmanian Minister for Health Michael Ferguson told Fairfax Media that CBD is due to be classed as schedule 4 (prescription-only medicine) from June 1, 2015, and that there is currently only one application pending to grow and develop high-CBD hemp cultivars in the state.
Unlike the better-known Tetrahydrocannabinol (THC), CBD has no psychotropic properties. Tasmania is collaborating with clinical trials under way in NSW to test the efficacy of the CBD-based treatments. Advocates tout it is as a potential treatment for conditions including epilepsy, multiple sclerosis and inflammatory diseases.
The potential market is huge and Tasmania is ideally placed to be at the forefront of profiting from it, Ms Nicoletti said.
"Tasmanian policymakers are behind the push, and the state's international reputation for being clean and green helps speak to quality assurance."
ESTABLISHED HEMP, OPIUM PRODUCTION
Ms Nicoletti said Tasmania also had the advantage of having established material grade hemp and controlled pharmaceutical-grade opium production industries in the state, which meant there was a template for many of the new regulatory frameworks required.
Mr Ferguson has echoed Tasmanian Premier Will Hodgman, speaking out in support of allowing the development of a medicinal cannabis industry in the state.
"The reclassification of cannabidiol to a different schedule has taken place away from political considerations. This serves as a reminder of the ongoing need for the science-based approach that drives the way we regulate medicines in order to benefit from scientific advances and to keep people safe. The Tasmanian government is committed to a collaborative approach to clinical trials with other states and territories," he said.
The Cannabinoid Extracts Australia deal rounds out to three the roll-up of Cannabis company acquisitions that BBY executive director Adam Blumenthal has helped the Capital Mining board assemble.
Once regulatory approvals are granted, Cannabinoid Extracts Australia expects to plant a crop in the second half of 2015, with initial annual production forecast at about 1000 kilos. Internationally, CBD typically sells for between $US50,000 to $US70,000 ($65,000 to $92,000) a kilo.
Capital Mining is expected to hold a shareholder meeting in about five weeks to take the new strategy and yet-to-be unveiled name change to a vote.
Mr Blumenthal said the Capital Mining board was excited to be at the forefront of developing the domestic medicinal cannabis industry.

 

[Miner]

Hi Miner.
I lived and worked in Calgary for close to 30 years, and although medical marijuana was legal in Canada for the past number of years, it was about 2 years go that the Fed Govt really opened the gates on it.

IMHO, I believe that CMY and crew, are looking to down the road of GWPH (NASDAQ), which I bought shares in whilst they were at $30 per share

Tasmania to green light cannabis farming, Capital Mining in deal for first licence
http://www.afr.com/business/tasmani...ing-in-deal-for-first-licence-20150417-1mlllp

Tasmania is set to give the green light for Australia's first legal medical marijuana grower, in what is expected to be the start of a new industry for the state. Capital Mining, a failed explorer with a plan to transform itself as the second ASX-listed cannabis company, has struck a deal that puts it in line to be granted the first licence.
Capital Mining will come out of a trading halt on Friday morning to announce it has struck a deal to pay $250,000 in cash and $100,000 in shares for Cannabinoid Extracts Australia, a subsidiary of ASX-listed Atlas Pearls and Perfumes. The venture has an application with the Tasmanian Department of Health and Human Services for a licence to grow medical-grade cannabis for the purpose of extracting cannabidiol (CBD), one of 85 active cannabinoids found in the plant.
The company hired Piper Alderman partner Teresa Nicoletti, a 20-year veteran of the big pharma industry, to lead the process of gaining regulatory approvals for the new venture ahead of expectations of a policy change that will for the first time make it possible to apply for a production licence in Australia.
Tasmanian Minister for Health Michael Ferguson told Fairfax Media that CBD is due to be classed as schedule 4 (prescription-only medicine) from June 1, 2015, and that there is currently only one application pending to grow and develop high-CBD hemp cultivars in the state.
Unlike the better-known Tetrahydrocannabinol (THC), CBD has no psychotropic properties. Tasmania is collaborating with clinical trials under way in NSW to test the efficacy of the CBD-based treatments. Advocates tout it is as a potential treatment for conditions including epilepsy, multiple sclerosis and inflammatory diseases.
The potential market is huge and Tasmania is ideally placed to be at the forefront of profiting from it, Ms Nicoletti said.
"Tasmanian policymakers are behind the push, and the state's international reputation for being clean and green helps speak to quality assurance."
ESTABLISHED HEMP, OPIUM PRODUCTION
Ms Nicoletti said Tasmania also had the advantage of having established material grade hemp and controlled pharmaceutical-grade opium production industries in the state, which meant there was a template for many of the new regulatory frameworks required.
Mr Ferguson has echoed Tasmanian Premier Will Hodgman, speaking out in support of allowing the development of a medicinal cannabis industry in the state.
"The reclassification of cannabidiol to a different schedule has taken place away from political considerations. This serves as a reminder of the ongoing need for the science-based approach that drives the way we regulate medicines in order to benefit from scientific advances and to keep people safe. The Tasmanian government is committed to a collaborative approach to clinical trials with other states and territories," he said.
The Cannabinoid Extracts Australia deal rounds out to three the roll-up of Cannabis company acquisitions that BBY executive director Adam Blumenthal has helped the Capital Mining board assemble.
Once regulatory approvals are granted, Cannabinoid Extracts Australia expects to plant a crop in the second half of 2015, with initial annual production forecast at about 1000 kilos. Internationally, CBD typically sells for between $US50,000 to $US70,000 ($65,000 to $92,000) a kilo.
Capital Mining is expected to hold a shareholder meeting in about five weeks to take the new strategy and yet-to-be unveiled name change to a vote.
Mr Blumenthal said the Capital Mining board was excited to be at the forefront of developing the domestic medicinal cannabis industry.

Hi Cthaffy/Chris

Great information and I was not checking the ASX site regularly either from Madagascar.
Thanks for many heads up and your start on this thread means a great for ASF followers. I would be very keen to see your postings. Spending 30 years Calgary is a bloody rich experience to be shared in ASF.

I gather Tassie will be front runner now and great to know you preferred to get out of Calgary (presuming you would be full bottle on petroleum scrips and alike too)

Looking into GWPH price - it has been constantly on rise and you got 300% price rise ($112) from March 2013. With that trend, I see CMY would be great for investment.
Thanks again.

 

[cthaffy]

Hi Cthaffy/Chris

Great information and I was not checking the ASX site regularly either from Madagascar.
Thanks for many heads up and your start on this thread means a great for ASF followers. I would be very keen to see your postings. Spending 30 years Calgary is a bloody rich experience to be shared in ASF.

I gather Tassie will be front runner now and great to know you preferred to get out of Calgary (presuming you would be full bottle on petroleum scrips and alike too)

Looking into GWPH price - it has been constantly on rise and you got 300% price rise ($112) from March 2013. With that trend, I see CMY would be great for investment.
Thanks again.

Also keeping a very close eye on IGS