what can happen, page-21

Hi Flying Doc,

I'd have to agree with you there. To sell now would be a classic buy high/sell low scenario, unless one thought CFE was permanently dead in the water, which IMHO is unlikely. Although the SP returning to the 20's is a possibility, you'd have to think the SP going down to .20 is unlikely unless there's a full blown market crash due in the overall market. In that case everything today would look expensive with 20/20 hindsight.

ATM, CFE have got the nasty trifecta of the 95m tax uncertainty, Marampa uncertainty and the 80m MCC uncertainty. Conversely, if the markets recover and at least a couple of these issues are resolved, you'd have to expect a pretty hefty bounce especially if CFE find themselves in a position to acquire in a dead market. Not for the feint hearted but I think I'll lurk on the sidelines for the possibility of of a broader market melt down coinciding with an improvement in CFE's corporate situation. My main concern is that iron ore is increasingly on the nose but if they can get to a position where they can diversify a little more, CFE may yet have legs. Interesting yet anxious times for holders. Good luck.

P.S I still think selling the Mayoko project a year too early was CFE's pivotal "DOH" moment. They'd be in clover right now had that not occurred, even though I was given stick for pointing it out at the time.