Bob Moriarty comments on CBM Sorry for my previous link not working...
TER: You've also talked about CBM Asia Development Corp. (TCF:TSX.V) and its coal methane beds. Are you still excited about that?
BM: Yes and no. Coal bed methane and Indonesia are both very exciting, but CBM Asia is just about the worst communicator I've seen. Four years ago, the company made a giant mistake by trying to grab as much land as possible. As a result, its costs have gone through the roof and the company isn't doing anything visible to shareholders. In 2009, the stock was $0.60; today it's $0.10. The company announced a $15M raise in March and never completed it. Management never told people what was going on.
Going by how much gas it has, CBM Asia should be a $300M or $400M company. Instead, it's a $16M company that has raised $40M. Management has torn dollar bills in half and thrown them away. CBM Asia could be a home run if you had a change in management first. They should fire the president; he has destroyed a very valuable asset through his lack of communication.