They have unlocked a massive gold reserve to concentrate on iron ore but keeping 70% and a $15 million royalty. They could not mine Mt Ida and develop the iron ore, it’s just too hard. They have now got experts in to mine the gold and they get the benefit of a royalty! They now have $12 million in the bank $15 million to come in from the mining royalty, the new IGL gold float will trade well in excess of 30c and CFE will hold 20% directly and the shareholders 50%! They still have their shares in Jackson Gold and NFX gold which is worth $5-6 million and the huge copper project in Romania! Again on their share price it will trade well over 60c, if you look closely, there is only one seller who must get out. So far Comerzbank have dumped 10 million shares and have 3million to go! They closed their investment division and must sell everything they own!! Also, see article in the West today, Wednesday. Also anyone who buys will up to the shareholder meeting will get the allocation in the new IGL.
CFE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
