I have to agree I don't see any manipulation of CMM share price... The volume is too low and what increase came from investors such as myself that stepped back into CMM based on the potential arbitrage of the deal.
The volume is now decreasing, lack of buyers, because of the toxic scentiment portrayed on all of the boards... I was prepared to buy a couple 100K but stopped far short of this after seeing all these negative posts.
I would not have purchased any shares of CMM at this time had the offer not been made, CMM being a high risk at this time....JMHO
I think similar to SGR a few years ago when they were raising money and moving toward being cash flow posative.... They still are not. But the investor base has changed and the billion MC has been reached ....but cash flow positive is still to be proven. A long slow march toward this end..... CMM I see in this same light... the event changing the shareholder partisipation which will drive financial change.
If WTG does have some stellar results I expect them will do a large placement at this time, that cash would be used to make a sweetened cash + share offer for CMM shares.
I expect WTG has awakened the market to CMM being in play, maybe someone else comes in with a cash offer, or a mid tier with better mature assets could make a share swap consolidation.
Certainly an SGR or LSG could come to the table as well.... They would likely get a better reaction from investors on something like a 1 for 4 or 1 for 5 deal. Question is what effect this would have on the break fee.
The market is saying that the true value of WTG consolidation with CMM would be $1.50 / share.... This compares well to SGR or LSG share price.... for a share swap if they were interested. I,m sure others could be considering something of this nature.... What is clear is that CMM is up for sale, but whats it worth when compared to some other assets. These 2 operations are similar in potential size to CMM, so what is reasonable if one of those took a run at CMM.
Holding my position to see how it plays out.
