share price and buy back

It certainly looks like someone wants to get out at 11 cents but it amazes me that people aren’t scooping them up at that price. If I had the cash I would as I see CFE as a bit of a no brainer for a profit at the moment.

From today’s announcement we know we have $29.8 million in the bank.

From all the research articles, news reports and announcements we know that the current claim for the MCC payment (with interest) is about $106 million. If we get less than $80 million of that claim then we get reassessed and a return from the ATO. The Cannacord report says that they expect a settlement between $40 and $106 million.

We will have Royalties coming from Mayoko but it hasn’t been a secret that CFE are looking for a sale of those Royalties and Mining Weekly say the price could be between $55 and $114 million (present value).

If you’re interested do a calculation of the cash in bank and the minimum payments (not taking into account any ATO return) and divide it by the number of shares on issue. I get it to be worth almost 19 cents a share.

If you do a calculation of the cash in bank and the higher estimates you might get the same result as me which is about 37.5 cents per share.

And those calculations don’t even take in the value of all our other holdings.

I’m still at a loss why Cannacord isn’t scooping up all those 11 cent shares on offer in the Buy Back.

My calculations say it’s dirt cheap. But then again I might be missing something.