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.
This is still week. Maybe the deal is not going to happen. The grades are not very good.
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.
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.
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.
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.
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.
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
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