This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

CLE - Cyclone Metals

Jump to new
Yes, I am now in profit. 100,000 at 53c and 100,000 at 40.5c. At closing I am up $8,000 odd after costs.

As I said in an earlier post I expect them to nudge up until the end of the month. I will sell half if they get to 60c.
 
Glenhaven said:
Yes, I am now in profit. 100,000 at 53c and 100,000 at 40.5c. At closing I am up $8,000 odd after costs.

As I said in an earlier post I expect them to nudge up until the end of the month. I will sell half if they get to 60c.
Click to expand...

You have gone in a lot harder than me I have just under a quarter of your holdings but in the oppies . They are running a little early considering they were expecting results to be out in the first week of June. I guess it is anticipated for the deal to be secured.
 

lol, you both make me feel poor . I brought in at 43c before the first ann about the deal (on a t/a basis), I got a feeling this company might have a bit of a leak, as there was alot of buying before the deal was annouced orignially and it looks likely to happen again. Will be interesting to see how hard it runs over the next few weeks.
 

Dunworry nomore4s..I dont have too much in the market. My fund has been building for the past year. Looking forward to becoming a bigger fish on the market. Need a few more winners..hopefully CFE is one of those winners. We have crunched the numbers on the deal earlier within the thread and I'm getting pretty excited as to whats going to happen. It looks to me as a clear trend reversal on the charts. I just want that announcement out for confirmation. Good luck to holders.
 

lol, it's ok Chris, I've only just begun trading in shares and only have a small amount of capital in the market atm, as I learn more I will slowly increase this. Provided this deal goes ahead (which imo is looking good) we should all have a bit more capital to invest in the market. There is not much we can do now except wait for an ann, we all know how good the deal will be if it does go ahead.
 

Trading strongly again in the UK. Currently at 23 pence..looking good. Im hoping this run continues..its really showing some great potential.

0.23 GBP = 0.546905 AUD
 
Glenhaven; said:
Yes, I am now in profit. 100,000 at 53c and 100,000 at 40.5c. At closing I am up $8,000 odd after costs.

As I said in an earlier post I expect them to nudge up until the end of the month. I will sell half if they get to 60c.
Click to expand...

I hold a similar quantity to you Glenhaven. My average is similar @ 0.45 and I only hold shares no oppies. I was pleased it didn't break that $0.40 mark which was my "buy more" because I hold enough and it wasn't going to drop my average price down much anyway. You brought your average down well.

Of interest Robe calculated approx 255 million tonnes 7 years ago. Within the same CTA "central target area." CFE needs only to drill deeper (which has been done) and find 45 million tonnes. On a area of 5000m x 600m the average find across the CTA needs to be 12 metres deep of iron. I am confident that the extra 45MT has been found. (if you do some calculations from the CFE drill data remember many of the drill holes contain iron already found buy Robe)

calculations for average find needed: 5000m x 600m x 12m (say average depth) x 2 (soil doubles in size out of the ground) / 3 (33% magnetic iron extracted) x 2 (1 cubic metre of iron weighs approx 2 tonne) = 48MT

"Delong holdings" SP is at least 50% higher than it was when Ding signed the contract. Ding would be feeling mighty cashed up at the moment.

I'm not going anywhere. I did buy for the medium term. I was eyeing off CFE before the deal. However I didn't buy until after.
 
Check out the latest announcement, re board changes etc. Just been released.

Main points are that they confirm that Mr Ding has purchased the 40 million options. And that they are nearing completion of the resource estimate, and that certification should be completed by end of July.

Thats a very good start re Mr Ding. If he converts the options to shares, which they have indicated he will do, we should see a nice re rating.
 
Must say that I thought the announcement would have moved the price up more. Probably because it's a down day the impact is lower than it otherwise would have been.

It has increased my confidence level.
 
Picked up that ann quick. Thanks RUPRECT. At first I thought that ding had converted the options. But No. Good info thou from CFE. Keeping us informed.
 
Hello everyone

I have been following this stock with much interest, but don't own any shares in it.

I don't understand one thing:

If you look at the company presentation that Cape put out on 14/08/2006, they state that they have 2.5 Billion Tonnes @ 30%Fe with 1.4bt in Indicated Resource category and 1.1bt in Inferred Resource category
(250m depth & 25%Fe cut off).

They also state that they have 1.2 Billion Tonnes @ 33%Fe with 0.67bt in Indicated Resource category and 0.53bt in Inferred Resource category
(250m depth & 30%Fe cut off).

So what I don't understand is what is the issue in proving up 300Mt as an Indicated Resource? According to their presentations, they already have it. Or am I completely missing something?

Thanks for your help.
 

mahmoodf, from what I understand they have to get independent confirmation they have at least 300Mt to finalise the deal, and as you have stated it shouldn't be a problem as long as they have miscalculated or been fudgeing the data.
 
Indicated 300mt!

I believe CFE hadn't drilled any further holes from Robe's drilling when CFE came up with their higher totals. It was CFE's consultant which estimated these upgrades. (maybe ?)

When 300MT was part of the contract I asked why not higher? and concluded as above. That is why I posted about a week ago Robes 255MT which I hope is true and we are looking for a further 45MT.

I think many are in the same view by the share price increase last week. CFE published that diagram of the cross section of the 200m thick iron run to their 07p17 drill hole.
 
I'm sorry to say this, but your replies have not cleared up the air for me. Referring back to the report of 14/08/2006, here is what it says:


Is this not an independent view? I still don't understand the issue of the 300Mt required as Indicated Resource when in their report they already have a JORC resource qualified at over this amount by an independent geo. Can someone please explain this to me.
 
It's been a long time since I looked at this but I think the issue is that while there may be 1.4BT in the ground not all of it is economically viable.

The 300MT has to be within a certain zone of surface mineralisation to be able to mine it with an open pit. I seem to recall that a lot of their resources are deep, much deeper than Robe drilled, and while it's nice to have resources they don't add value if you can't dig them up and sell them for a profit.

Anyone care to set me straight?
 
Rather than take guesses, I will put forward this question to Cape Lambert and see what they say. Thank you for all the replies so far.
 
Hello everyone

I got a prompt response back from the company. The company does have a JORC compliant resource as stated already.

Best Decade (Mr. Ding and co) requested another independent resource estimate for their due diligence.

I guess it's a bit like getting an opinion from two or three doctors about a medical condition.

I feel a lot more confident now and have bought shares in CFEO. Good luck to all holders.
 

Thanks for the info mahmoodf. There really shouldn't be to many problems getting the JORC to finalise the deal then. But I guess we have to wait till end of July to find out.

Also in the last ann there was this:
"Establishment of joint venture office
Cape Lambert would also like to advise that it has opened a joint venture office to, in conjunction with Mr Ding, develop the Cape Lambert Iron Ore project."
This is positive imo as both companies have gone to the trouble to set up an office for the jv, which means they are pretty confident the deal will go through.
 

In the 3rd quarter report it states that:
"CFE is pleased to advise it has commenced initial compliance with regard to the 300 million tonne indicated resource by the appointment of RSG Global as the independent geologists. CFE anticipates completion of verification by the 1 week of June 2007."
The same report also states that the "updated resource model is scheduled to be completed by the end of July."
My understanding therefore, is that the 300mt compliance is due by the first week of June (ie. the deal is confirmed) and that full definition of the resource is due by the end of July. Any thoughts on my reading of the situation?
 

I think you are correct, as when the deal was first ann they said 4-6 weeks which is the early June, I'm telling myself July to allow for any delays and so I don't get impatient. Some of these companies are constantly 2-3weeks behind schedule releasing info.
 
You must log in or register to reply here.

Similar threads

May 2024 DDD
2 3 4
Replies
69
Views
7K
qldfrog
BM8 - Battery Age Minerals
Replies
3
Views
2K
JohnDe
J Capital Research
Replies
1
Views
2K
greggles
CAE - Cannindah Resources
2
Replies
27
Views
8K
The Triangle
LOT - Lotus Resources
4 5 6
Replies
100
Views
26K
brerwallabi
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...