CLE - Cyclone Metals

[dogwithflees1983]

Good to see CFE share price on the rise in consecutive days. I bought in a while back now, and saw it rise to its dizzy peaks of 80c before it crashed and burned when Ding failed to payup.

Is is still worth holding??

Cheers

 

[MR.]

Depends on what you know that the rest don't.

I told you what I know and if you want me to add "I don't own any CFE shares or options".

So is it worth BUYING, holding, or selling? Itchy Dog.......!
What can you tell me.

 

[TheAbyss]

My view is that the volumes have been pretty good for the last few days (approx 5 million units a day). If CFE can get a close above 45c on similar volumes i will get a few more. until they close over 45c it could go either way in my view.

 

[dogwithflees1983]

Cheers for the input

Just sold out at 41c, could jump back on depending on how CFE share price travels over the next few days.

Goodluck

 

[Go Nuke]

I paid about 70+c ages ago, so CFE ows me big yet.

But as ive said previously, the Iron Ore is in the ground and pretty much proven..so guess i'll have to wait

But yes...I'm happy to see the sp creep up too.
Its probably just on the back of the increase iron ore prices and a near conclusion that with CFE's resource they will get dug outa the ground one day.

 

[TheAbyss]

Looking interesting. Sp still on the improve and i am hopeful of a close above .45 cent mark today. 109 buyers for 3,459,621 units 55 sellers for 1,235,991 units

 

[enigmatic]

what I have taken out of that announcement made on the 14th is that they have confirmed they are no longer looking at a 5-7Mta plant they are definitely considering a min of 15Mta.
If it was valued at 80c back at under 15Mta by the market then wonder what its potential is now

 

[dogwithflees1983]

It has been a great week for CFE...SP just keeps on climbing. Think i sold out too early

Goodluck to all those holders

 

[shaunm]

Would anyone like to hazzard-a-guess why Cape Lambert is now in a trading halt.....no announcements on the news section??

 

[Real1ty]

Would anyone like to hazzard-a-guess why Cape Lambert is now in a trading halt.....no announcements on the news section??

I think it will be the sale of a % of the project.

There were rumours of it last week or so and this is where the sp appreciation of late has come from imo.

 

[enigmatic]

Does seem a bit odd the sp moved up recently with no real expectation of news. guess we will have to wait till tuesday.

 

[smoothsatin]

I think it will be the sale of a % of the project.

There were rumours of it last week or so and this is where the sp appreciation of late has come from imo.

That's precisely what will be announced. Apparently the buyer is one of the orginals whom they were negotiating with before singing with Ding.

 

[Real1ty]

Iron ore brings Chinese to Cape Lambert

CHINESE interests are this week expected to step up their investments in the booming Australian iron ore industry, partnering junior iron ore hopeful Cape Lambert in what is tipped to be a multi-million-dollar deal.

Despite increasing scrutiny from Canberra over foreign investment on the Australian resources landscape, giant Chinese steel company Metallurgical Group Corp is believed to be the front-runner to partner Cape Lambert at its namesake iron ore project in the West Australian Pilbara.

Cape Lambert went into a trading halt on Friday with market speculation now centred on an announcement that Metallurgical will invest around $300 million in the project. The deal would also see Metallurgical fund construction of a processing plant at the Cape Lambert project.

Metallurgical is a big, state-owned conglomerate that has been at the forefront of building additional steel-making capacity in China and can boast financial interests in five continents.

Metallurgical is also partnered with Citic at the nearby Sino Iron iron ore project, which is on ground that was once owned by well-known entrepreneur Clive Palmer.

Interest in investing in Cape Lambert's project, on the Pilbara coast near Karratha, has come from a number of Chinese parties, but Metallurgical is now considered the front-runner for a joint venture deal.

Cape Lambert executive director Tony Sage was in China last week and was believed to have met senior Metallurgical representatives after they showed more interest in the project following release of test work data by Cape Lambert.

Earlier in the month Cape Lambert said studies by an international research centre confirmed much of the silica in a concentrate sample could be removed without much alteration to the iron units.

The testwork showed that the silica levels could be nearly halved.

Following the research, the concentrate assayed 66.4 per cent iron and 4.8 per cent silica, which made it suitable to be considered by steel mills as blast furnace pellet feed.

The reverse flotation test was conducted in Germany, and Cape Lambert said at the time it was confident further reductions in silica could be achieved through "test work optimisation".

"I hope these results put to bed any doubts the market may have about Cape Lambert's ability to produce a saleable final concentrate at less than 5per cent silica," company chairman Ian Burston said at the time.

Cape Lambert is also on track to give an improved resource estimate for the project in June with the current resource standing at 1.56 billion tonnes grading 31.2 per cent iron.

The company hopes to prove up enough reserves at its flagship project for a 15 million tonne a year operation for at least a 20-year mine life.

Most of the resource is for magnetite product, which requires additional processing to bring it into line with haematite ore grades.

Cape Lambert is expected to come out of its trading halt by tomorrow.

http://www.theaustralian.news.com.au/story/0,25197,23268160-5005200,00.html
I wonder if the sp will jump up near it's last high or if it a lot has been built in now after the rise over the last week.

Good news for holders

 

[chansw]

http://www.rttnews.com/sp/Quickfactsnew.asp?date=02/25/2008&item=32

Cape Lambert, China Metallurgical Group Sign MoU For Sale Of Iron Ore Project For A$400 Mln - Quick Facts [CLIO.L]

2/25/2008 5:27:45 AM Monday, Cape Lambert Iron Ore Ltd. (CLIO.L) said it has signed a memorandum of understanding with Chinese conglomerate, China Metallurgical Group Corporation, or MCC, for the sale of the company's namesake iron ore project in the Pilbara region of Western Australia for a total consideration of A$400 million.

Cape Lambert said that the key terms of the proposed sale have been agreed upon.

As per the terms of the memorandum of understanding, or MoU, MCC has secured an exclusive right until April 30 to conduct due diligence for the acquisition of the project. The proposed sale is subject to the successful completion of due diligence by MCC, approvals by Cape Lambert shareholders, FIRB and the Chinese government.

Cape Lambert added that MCC has paid a deposit of A$10 million, with A$5 million of this being non-refundable if MCC withdraws from the sale. The entire deposit will be offset from the sale consideration when MCC complete the acquisition of the project.

 

[chansw]

CAPE LAMBERT IRON (LSE:CLIO.L)

Last Trade: 33.00 p
Trade Time: 12:22PM
Change: 10.00 (43.48%)
Prev Close: 23.00
Open: 22.50
Bid: 33.00
Ask: 35.00

It should be a very strong day tomorrow for CFE

 

[enigmatic]

Good news for CFE although thought it would of responded better especially on a good day. Come April if this does go through
you have a $134mil Mkt cap company with $240million in April with another 160mil to come.

 

[Go Nuke]

Hahaha what a laugh the market is!

The DOW is up nearly 200 points, and CFE gets smashed today!

I guess the announcement must not have been as good as what some people had obviously heard before the rest of the world heard about it

I thought 50c would have been good support..but it wasn't to be.

Lets hope this doesn't turn into another Ding fiasco.

 

[Real1ty]

IMO this is disappointing news.

Sure it is a big cash injection, assuming the deal goes through, but they sold the whole thing now, so they have to start again, almost.

From the way they are talking i have a feeling they see their chances as better off offshore, maybe in Africa.

I haven't researched this properly yet but they still hold a tenement and that may well be a very good proposition, considering it will be next door, so will not need a massive capex.

The following is merely conjecture on my part but i wonder if a CFE/SDL merger/JV would be a possibility.

SDL have the ore and CFE have cash although not enough, but a really good start.

I think there is more than meets the eye here.

 

[enigmatic]

I think it was the ones that believe in the stock that were buying alot, with those that had bought in arround 30c or a little higher just wanting to take a profit and run as there confidence is lacking after experiencing Ding.
Once April comes and the money is in the bank then there should be less people wanting out on quick profit and more wanting in for the duration until the mine is up and running.

this is my thoughts i suggest DYOR.

 

[mayk]

Does this mean CFE should have a share price of $400M(sold at)/252.22M( shares) =$1.58.

At least it can go up to 1.00 ( conservative ) till april. I am new to stock and bought this one at .65 ( near all time high a while back..). Am I reading this right?