Yes they haw last update was in November issue here it is
Cons Thompson (CLM-T; $4.72) traded
to a 52 week high near $6.00 in anticipation
of more M&A activity after the company
completed the large financings noted in the
last issue. That deal turned out to be a bid
for a controlling interest in the Wabush Mines
JV that would have provided the company
with immediate production but, more importantly,
in place loading and dock facilities.
The bid failed after Cliffs Mining exercised its
first right of refusal on the deal. This generated
selling and it probably sets the production,
or at least product sales, timetable back
by a few months. The upside is that CLM
should be fully funded to get its own port facilities
built which its now doing. The basic
story hasn’t changed, nor has our original
premise that this is a stock to be accumulated
when the market is weak. We are not
privy to management’s “plan B” but we suspect
there is one given how aggressive this
team is. Accumulate during weak market
periods below this level.
http://www.consolidatedthompson.com
