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CLE - Cyclone Metals

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Also if you read the actual announcement further to the "capital management" of a buyback management is issuing 8,000,000 options at 45 to "management and valued consultants". Now normally I'm the one who's outraged at the incredible paychecks of executive management, but CFE's management (that's the entire lot, including "essential staff") was paid 4.4 million this year after all bonuses, in comparison with my pet peeve of Transurban's CEO, who gets paid 6 million along with other benefits, for what I can tell is just being a glorified toll man. All in all, for once I'm not mad at management, this is a pat on the back for the men and women who delivered us the goods of a 72 million profit issued in options as opposed to free shares.

:2twocents
 
The current share price $0.40 (TOTAL SHARES 625, 759,256, MC$ 250M @0.40PS) means it only equals CFE’s cash and cash receivables and therefore CFE’s considerable project portfolio is not given any value in the market. This situation will be changed when asset value begins to realise significant increases by market.
Within the next 12-18 months, the value proposition presented by the Marampa project and Mayoko deposits will become clear once cash has been realised for these project through asset sales or Maiden JORC resource or deal with Several Chinese companies including China Minmetals. Value for the Sappes Gold Project in Greece would have been realised and other potential corporate transactions involving other assets in the CFE portfolio would have been advanced.

The Marampa Iron Ore Project and the recently acquired Mayoko Iron Ore Project in Sierra Leone and Republic of Congo respectively differ from some large +1 billion tonne peer projects in West Africa due to their proximity to infrastructure, which can be readily upgraded or refurbished, without the large CAPEX requirements. CFE are progressing activities that will add significant value to these projects.

CFE is looking to find a buyer for the Sappes Gold Project in Greece, which should be aided by the completion of an update to the Feasibility Study and approvals from the Greek authorities on the EIS. Once this issue is resolved that a potential purchaser would see the project as significantly de-risked.

Brief CFE main projects:
Marampa Iron Ore Project
(100% ownership) Hard rock target size ± 700M-1Billion tonnes, Maiden JORC resource targeted for year end 2010; Several Chinese companies including China Minmetals, have shown an interest in Marampa project;
Pinnacle Group Assets (37.2% ownership and Manager)
Iron ore prospects in Sierra Leone & Guinea and coal in Sierra Leone, adjacent to Bellzone’s 2.4 billion tonne Kalia magnetite project,
DMC Mining Limited (100% Ownership)- Mayoko project
6 targets with exploration target size ± 0.9
- 1.3 billion tonnes of itabirite iron ore,
Sappes Gold Project (100% Ownership)- 0.83M OZs high grade Gold
High-grade, underground Viper resource (total
Mineral Resource – 1Mt at 21.4 g/t Au),
Small, open pit on St Demetrios mineralisation (total Mineral Resource – 0.8 Mt at 3.4 g/t Au).
Corvette Resources – Gold (Hold 32.3% - ASX: CVX)
Province hosts the 5 million oz Tropicana- Havana deposit (70km north along strike),

Asset A$ Value
Cash $135M
Outgoings (dividend & DMC acquisition) $(76)M
Cash Receivables / Con notes $92M
Equities (mark-to-market) $47M
Marampa (100%) $500M
Mayoko (80%) $100M
Sappes (100%) $50M
Plus Iron ore prospects in Sierra Leone & Guinea and coal in Sierra Leone, adjacent to Bellzone’s 2.4 billion tonne Kalia magnetite project
Total PRESENT VALUE ++800M
CFE TOTAL SHARES 625, 759,256, MC$ 250M @0.40PS; LOOKING at the longer term CFE remains in a very strong up trend with plenty of potential growth in the coming months; Valuation CFE with a 18 month price target of $1.02 per share.
 
Should be an interesting next couple of months coming into an early christmas imo, news is due out soonish on the Sappes project, hopefully sold at the 60 million that TS was quoting earlier this year. The long awaited rerating is inching ever closer :).

:2twocents
 
great channel break today.
Check out the volume - and it's only lunch time :)
I hold and have moved my trailing stop to a Close Below 44c.

CFE n 25-11-10.gif
 
Very quite here,much has been happening with their buyback seeing the chart with a forward trend up even at .58c sp which could be the next resistance level for a further push towards $1 good enough for me to jump on at this point :2twocents

laurie
 
laurie said:
Very quite here,much has been happening with their buyback seeing the chart with a forward trend up even at .58c sp which could be the next resistance level for a further push towards $1 good enough for me to jump on at this point :2twocents

laurie
Click to expand...
Hi Laurie,
When I see rising channels with increasing gradients, I expect a "blow-off" top.
Therefore, when today's candle failed to hold yesterday's Close, turning the pattern into a Harami, I sold the lot. If I'm wrong, I'll buy back next week, but usually, this kind of pattern drops back quite briskly to one of the lower channel bottoms.

CFE 21-01-11.gif
 
I jumped into this stock at 57c. Strange, thought it would level off at 55 as it has been incrementing steadily at 5c intervals. Think it will hold above 55 anyway, so prepared to sit on a small loss if required and wait for it to move up from there. They seem to have a nice suite of projects underway, and the chart is nice and steady, also buying volume seems consistently much higher than selling.
 
lol exactly as soon as I buy it does the very same thing FALLS:banghead: bet you it would have kept going up if I did not buy in, but like you, I think I'm rather have a seat on the train than miss it as it speeds pass the station my main reason I jumped on is the possible future dividend payouts :2twocents

laurie
 
Cape Lambert puts Sierra Leone project up for sale


MINING: Cape Lambert Resources has started a $500 million sale process for its Marampa iron ore project in Sierra Leone.

"We start the (sale) process now and we have two groups going on site in February," Tony Sage, executive chairman of the Australian miner, said yesterday.

"We expect the sale to be complete by June 30," Mr Sage told reporters at a briefing.

He said he believed the project had a "minimum" value of $500m.

Although unwilling to identify the two prospective buyers about to visit Marampa, Mr Sage described them as a Korean steel making group and a "consortium of steel mills out of China".

He said earlier visitors to the project had included two Chinese entities -- the Shandong group and MCC.

Mr Sage said Cape Lambert was considering a 100 per cent "trade sale" of the Sierra Leone venture.

However, the executive chairman said he was leaning more towards an initial public offering which would leave room for Cape Lambert to retain an interest in the project.

The IPO would potentially raise between $US400m and $US500m, he said.

"We'd probably list it in London or Hong Kong," he said.

On top of the sale price, the buyer would need to spend roughly $600m to bring Marampa into production at a rate of 5 million tonnes a year, he said.

Cape Lambert recently concluded a deal with African Minerals to gain access on commercial terms to a nearby railway and port.

Under the deal, Cape Lambert's Marampa project secured 5 million tonnes a year of transport capacity.

Sierra Leone is one of several countries emerging as potential iron ore exporters in West Africa. The region has recently attracted investments from China as well as from diversified mining majors Rio Tinto, BHP Billiton and Vale of Brazil.

Link to Story here


With a market cap around $320 million this project alone without the cash position of 0.10 cents a share and many other projects in the pipeline there is a big 6 months in line for CFE.
 
Cape Lambert's share price is in blue skies at $0.715 close, good volume and a share buy back pushing the price.

Why no interest in ASF?

Market cap around of around $400m

Marampa Sale in the pipeline looking for $500million by 30 June and over $0.11 cents backing per share ($100m +) in Cash and Receivables.

Other projects including copper mine which will more than likely be an IPO. Gold Mine in greece progressing through Government Approvals and a mountain of Iron Ore tenement in West Africa.

Pattersons has a $1.03 price target, Click here to read the Pattersons Research.

Is anyone holding this?

I have been accumulating in the past weeks.
 
Also per the latest Quarterly Report the Marampa Scoping study will be released any day now with a production rate of 5 mtpa of Iron Ore with all infrastructure currently be refurnished.
 
surfingman said:
Cape Lambert's share price is in blue skies at $0.715 close, good volume and a share buy back pushing the price.

Why no interest in ASF?

Market cap around of around $400m

Marampa Sale in the pipeline looking for $500million by 30 June and over $0.11 cents backing per share ($100m +) in Cash and Receivables.

Other projects including copper mine which will more than likely be an IPO. Gold Mine in greece progressing through Government Approvals and a mountain of Iron Ore tenement in West Africa.

Pattersons has a $1.03 price target, Click here to read the Pattersons Research.

Is anyone holding this?

I have been accumulating in the past weeks.
Click to expand...

Surfingman, thanks for the post, I don't know why there is not a lot of interest here. I have been holding this stock since 57c and VERY happy with its performance. I like that they are doing something different and doing it very well. Thought it would retreat or be held up at 70c or below for a while, smashed through 70c barrier today no probs. This stock is holding my portfolio up at the moment.:)
 
bought in a miniscule amount...

see how it goes =)

hahah one day i say one day i'll be dropping 10's of thousands on a stock... one day...
 
Can anyone explain the massive offloading of this share today arround 1:45-1:50 the share price dropped to 55cents.

would really be interested in what happened.
 
There will have to be some sort explanation today I would think, the cross trade after close got my interest.

I can only see it a trader playing games on the low level of support or an algorithmic bot doing the damage.
 
Oh well i guess CFE are getting to buy back a larger chunk of shares then they would of been able too.

They just managed to squeeze even more out of CopperCo up to 70million profit over 1.5years on a 135million dollar investment 50% growth over 1.5years isn't to bad glad to have my money in tony Sage hands seems to find great investment opportunity at the right time.
 
Well looks like Cape Lambert Iron Ore shares continue to fall
It also seems that CFE has finished there Share Buy back of 54,059,653 Shares with a total consideration paid $31,924,485.16 giving an average price of 59.05cents per share
current SP is 59cents so just trading under the price CFE paid for it

I'm interested how often a company can buy-back shares and if anyone has reason for the sudden drop in price.
 

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