Too true. Announcements on time appear to be the exception rather than the rule. Finished nicely today though, considering the ords was down by more than 1%.
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.
mahmoodf; said: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.
Going off the current topic at the moment guys, but if the deal with best decade goes smoothly then CFE will end up with 250 million in cash. So obviously some of this money will go to development of cape lambert but that will still leave them with substatial reserves. Anyone else think this company may be in a good position to aquire another project. Where do people think this company is headed.
I might suggest something from left field. CFE could reasonably make a special payment to shareholders. For instance, the 192 US is equiv to about 235 million Australian. A special payment of say .40 cents per share would cost about 200 million aussie, assuming all option holders exercised their right, and of course they would to be eligble for a payment.
That would leave CFE with $35 million from the Ding payment for the iron ore project, plus about $70 something million from exercised options, = over $100 million.
So thats over $100 million to pay for their 30% share of the development of the project, and the remainder to invest in other projects, while still retaining a 30% interest in the project, which will bring in ongoing revenue for the next decade or more.
I guess though that is dependent on how much a 30% share of the development costs.
A return to shareholders is after all what is supposed to occur when companies make money. Just my thoughts.
I agree with the figures you have put forward there not far different to what I calculate. Although the mine total was suppose to cost 600 million and perhaps as much as 800 million total. 30% of that (CFE share) is 180 and 240 million. I have thought they might pay a dividend if the mine did cost 180 million. I have also read somewhere that Sage has suggested a dividend maybe paid.
The main reason why I like CFE is because they are now and will be in no debt. So many other companies are in debt. I still see CFE at ground floor and we have calculated fully diluted $0.677 per share in cash (at 250 million AUD Ding) + we will have a 30% mine, Iron ore being in demand and management in place to bring it all together. As for the 300mt I don't see that as the main hurdle it is the payment. Ding can walk away at anytime and lose only 2 million. I know by contract he is suppose to pay.
mahmoodf; said:Hi MR
Can he walk away even if Cape prove they have 300Mt? Is it not a binding agreement? I thought the only way out would be if Cape cannot prove 300Mt indicated resource.
MR.; said:Ding can walk away if the 300mt is not proved and he loses $750,000.
If it is proven then that bindings agreement you mentioned states he has to pay. Show me the money.
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