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Marampa worthless?

I thought it was worth $500M according to Sage

Remember in Feb 2011 when Sage thought CFE under a takeover threat and they were busily buying back shares?
Sages talk over the last few years has destroyed investor confidence IMO
Sage was a hero in early 2009 by picking up cheap undervalued assets but he wasn't so smart by allowing the broker to buy back at such high levels
Times like these we wish CFE had cash to buy up cheap assets and do buybacks but it doesn't
If the ATO debacle does not go anywhere, the SP could hit the 2008 lows -