CLE - Cyclone Metals
- Thread starter chansw
- Start date
Chris, im with you - ive been watching this forum for a while - but ive just joined. I should play my part.
Glenhaven, get a grip. Look at the deal that CFE have done - if they can prove the resource, (which from all accounts is probable, but not without risk), then the sp will shoot back up. And it is then that the ONE director who sold down SOME of his shares will be the loser, because they will head higher (probably much higher) than the 54cents he appears to have sold at.
Dont forget, there are other directors with significant holdings.
I hold, and am happy to take the risk with this one.
This is still week. Maybe the deal is not going to happen. The grades are not very good.
I meant weak not week of course.
Its only been just over two weeks. They expected it to take 4-6 weeks.
"Get an indicated resource of 300 million tonnes from an inferred resource of 2.5 billion. They expect to have this in 4-6 weeks."
So I guess its a waiting game untill they get the indicated resource of 300 million tonnes. A 4 week wait is still needed.
"Get an indicated resource of 300 million tonnes from an inferred resource of 2.5 billion. They expect to have this in 4-6 weeks."
So I guess its a waiting game untill they get the indicated resource of 300 million tonnes. A 4 week wait is still needed.
I must admit, my first reaction was that this is an easy kill. Buy now in the 40s, and just wait till the stock is more fairly valued at 70c+.
But talking to "iron-ore types", the general reaction I get is a shrug and a mumbling about low grades at depth.
So I'm not going in with my eyes closed, by any means. But chris1983 sums it up beautifully: get a 300m tonne indicated resource from a 2.5 billion tonne inferred resource.
A deal of this size I'm sure would have been entered into with a fair degree of optimism of reaching the hurdles - a smashed share price and wounded pride are the prices the directors will pay if they are not reached.
It does look like a no brainer if the deal goes through. It's just that the lack confidence of the market makes me doubt that the deal will be finalised. You would think that proving up the tonnes is not an issue, so all it can be is the certainty of the chinese investor. Does anyone know that he can really complete.
I think you summed it up well Glenhaven. I expect to lose money if the deal falls through..not too much though. The SP will definately fall initially if the deal isn't realised. If the deal is finalised I expect to make a good profit. I have a decent holding in the options. Mr Ding did take up 40 million unlisted oppies though..this shows confidence from Mr Ding. Just have to wait and be patient guys.
"This agreement is conditional on Cape Lambert providing the purchasers with an independent geological report confirming an indicated JORC compliant resource of 300 million tonnes. The Directors expect the report to be completed in Q2, 2007."
They just need to prove the 300 mt resource..I dont know..I guess there are always means and ways to get out of an agreement? But I just thought they looked like an easy stock to make money on. Many investors are still treading water atm waiting to see whats going to happen. To me..those guys waiting on the sidelines will miss out because once that announcement comes out I expect them to run..and run hard. Good luck to the holders.
16 April 2007
The Company Announcements Office
Australian Stock Exchange Limited
Via E Lodgement
CAPE LAMBERT FINALISES OPTION AGREEMENT TO ACQUIRE
ADJACENT TENEMENTS IN WESTERN AUSTRALIA
Iron ore exploration and development company Cape Lambert Iron Ore Limited (ASX: CFE, AIM:
CLIO) has finalised an option to acquire three tenements (E47/1233, E47/1248 and E47/1271) in the
Pilbara region of Western Australia, following the documentation of an option agreement with Mr Kim
North.
On 15 January 2007, CFE announced it had signed an exclusive option agreement to acquire the
tenements. CFE has until 31 October 2007 to exercise the right to acquire the tenements.
These highly prospective tenements are located adjacent to the Company’s Cape Lambert Iron Ore
Project (EL47/1462) and increase the size of this tenement holding to approximately 350 sqkm.
Recent exploration drilling at the project has confirmed the presence of a new, high-grade
mineralised zone, which appears to extend into the optioned tenements.
This significant mineralised zone will be subject to an extensive drilling campaign, with results
expected to be received by the Company in the coming 2-3 months.Under the terms of the option agreement, Cape Lambert has paid Mr North AUD$200,000 and issued him with 600,000 CFE ordinary shares.
Yours faithfully
CAPE LAMBERT IRON ORE LIMITED
Tony Sage
Executive Director
For more information please contact:
Cape Lambert Iron Ore Ltd
Tony Sage +61 8 9380 9555
Ian Burston +61 0 413 998 784
Australian Enquiries:
Professional Public Relations – David Tasker +61 8 9388 0944/ +61 433 112 936
The Company Announcements Office
Australian Stock Exchange Limited
Via E Lodgement
CAPE LAMBERT FINALISES OPTION AGREEMENT TO ACQUIRE
ADJACENT TENEMENTS IN WESTERN AUSTRALIA
Iron ore exploration and development company Cape Lambert Iron Ore Limited (ASX: CFE, AIM:
CLIO) has finalised an option to acquire three tenements (E47/1233, E47/1248 and E47/1271) in the
Pilbara region of Western Australia, following the documentation of an option agreement with Mr Kim
North.
On 15 January 2007, CFE announced it had signed an exclusive option agreement to acquire the
tenements. CFE has until 31 October 2007 to exercise the right to acquire the tenements.
These highly prospective tenements are located adjacent to the Company’s Cape Lambert Iron Ore
Project (EL47/1462) and increase the size of this tenement holding to approximately 350 sqkm.
Recent exploration drilling at the project has confirmed the presence of a new, high-grade
mineralised zone, which appears to extend into the optioned tenements.
This significant mineralised zone will be subject to an extensive drilling campaign, with results
expected to be received by the Company in the coming 2-3 months.Under the terms of the option agreement, Cape Lambert has paid Mr North AUD$200,000 and issued him with 600,000 CFE ordinary shares.
Yours faithfully
CAPE LAMBERT IRON ORE LIMITED
Tony Sage
Executive Director
For more information please contact:
Cape Lambert Iron Ore Ltd
Tony Sage +61 8 9380 9555
Ian Burston +61 0 413 998 784
Australian Enquiries:
Professional Public Relations – David Tasker +61 8 9388 0944/ +61 433 112 936
It looks to me the option holders believe the deal is going to success but the shareholders do not think so. The cfeo is close at 0.22 and the ex price is 0.28, which add up to 0.50 and it does not change very much from the beginning of april. But the price of share closed at 0.42
I hope the interesting phenomena is not because of Chris1983 and his mates holding a decent position and still support the price of cfeo.
I hope the interesting phenomena is not because of Chris1983 and his mates holding a decent position and still support the price of cfeo.
haha its not because of that
I really watch the SP with no interest atm untill they release news in regards to........."This agreement is conditional on Cape Lambert providing the purchasers with an independent geological report confirming an indicated JORC compliant resource of 300 million tonnes. The Directors expect the report to be completed in Q2, 2007."
Its amazing how long a 4-6 week wait is. There could also be delays..who knows what will happen..I dont see whats so hard in waiting. Its only been just over 2 weeks. As long as they dont go to half the price in the process. I have faced the fearrr of losing money if the deal isn't realised. If it doesn't go through I'll lick my wounds and move on. Good luck to the holders.
chris1983 you have a lot of balls
After reading the annoucement on the director selling his stock. I sold my holding at 46c for a big 90cent profit after brokerage.
In my opinion If the director was THAT confident about the deal he would have waited for the deal to go through before selling. Will be an interesting few weeks for CFE
After reading the annoucement on the director selling his stock. I sold my holding at 46c for a big 90cent profit after brokerage.
In my opinion If the director was THAT confident about the deal he would have waited for the deal to go through before selling. Will be an interesting few weeks for CFE
chris1983 you have a lot of balls
After reading the annoucement on the director selling his stock. I sold my holding at 46c for a big 90cent profit after brokerage.
In my opinion If the director was THAT confident about the deal he would have waited for the deal to go through before selling. Will be an interesting few weeks for CFE
Yeah I guess that could of put people on edge.
He sold 375,000 shares for a total value of $202,500
and
400,000 30 cent oppies for a total value of $103,250.
I'll be worried if I see Mr Ding sell any of the 40 million unlisted CFE Options that he purchased. How do they go about selling unlisted options? Just wondering. Anyone know? I feel pretty comfortable with the level of risk. I can afford to take a loss anyway if it fell through. I dont think it will though.
I think Mr Ding has already expressed his intention to convert his .37c options shortly. After going into it further, I'm not too concerned about the deal going through as extensive data already exists. What I'm waiting for is the drilling results of the new tenements (2-3 months) and TS to announce what "the seriously exciting projects" that they're "running the ruler over" are. Certainly have enough cash for further growth.
I'm not too worried about this for a number of reasons,
a) The other directors haven't sold, and they own a few more shares than Tim Turner ie Antony Sage owns 1.6m directly and some more indirectly.
b) And when he sold the testing would have only just started (if it had even started) so I'm not sure how he would have had any indication that the target of 300mil tonnes wouldn't be met, as all current data suggests that that target will be obtainable.
But I have been known to be wrong before. I'm willing to take the risk and hold to see what happens, I think it will be worth the reward if the deal does proceed.
- Joined
- 18 April 2007
- Posts
- 809
- Reactions
- 0
Giday guys, I have been reading your messages for a while and I wanted to post ...MY... opinion on the above share sales by Tim Turner. Perhaps you might agree with me...
Tim still owns just over 1,000,000 oppies at 30 cents which expire 3Q next year. How much will it cost to convert all these oppies? Yep its $300,000-. Tim appears now to have the money to convert his 1,000,000 oppies to shares in the company because of the above recent sales.
I would have done the same.
By not being too greedy (in his recent sales) tim now has a solid footing in the company and he can now roughly doubled his fully paid share holding when he converts the oppies. (I don't see any reason why he would convert the oppies in the near future though.) To conclude the sale of the shares by this director is no news either way.
Some other positives :
=The price of iron ore has recently been upgraded by experts which predict the current high ore prices will remain until 2013.
= Delong Holdings (Ding) is making a new bigger factory in china to be finished in 2010. He is going to need Iron Ore.
= China mines magnitite of similar quality to the ore held by Cape Lambert. Ding knows exactly what he is buying.
= Delong Holdings (Ding) over the past approx 8 weeks is now 50% higher in its share price...... Shanghai Shenzhen 300 Index (Shanghai Stock Exchange) is about 25% higher over the same period of time.
A share correction there worries me a little if it happened before that first payment..
CFE shares will change once either Ding converts the 40,000,000 oppies or the deal is settled by the first payment from Ding.
I own shares in CFE. I am not an adviser. These are just my comments on CFE. I like reading all of yours comments. regards
- Joined
- 18 April 2007
- Posts
- 809
- Reactions
- 0
So why didn't he wait???.....
I agree with HIS decision to sell. Isn't it always good to know exactly where you stand. It has nothing to do with any inside information. He knows his position now in concrete and he dosen't need to give it another thought until mid next year.... Wouldn't that be good !
I agree with HIS decision to sell. Isn't it always good to know exactly where you stand. It has nothing to do with any inside information. He knows his position now in concrete and he dosen't need to give it another thought until mid next year.... Wouldn't that be good !
- Joined
- 18 April 2007
- Posts
- 809
- Reactions
- 0
re: Appendix 3B
CFE - Total Fully Paid Issue: 249,924,531
CFEO - Total options Issue: 136,511,800 = $37,813,769
Share options not on ASX : 114,050,000 = $83,812,119
+ Mr. Ding's $250,000,000
Total shares on issue = 500,486,336
Total value with all options exercised = $371,625,888
(Excluding current CFE's NTA) the above = $0.667 per share.
Can someone confirm this total.
CFE - Total Fully Paid Issue: 249,924,531
CFEO - Total options Issue: 136,511,800 = $37,813,769
Share options not on ASX : 114,050,000 = $83,812,119
+ Mr. Ding's $250,000,000
Total shares on issue = 500,486,336
Total value with all options exercised = $371,625,888
(Excluding current CFE's NTA) the above = $0.667 per share.
Can someone confirm this total.
