Been discussed here before ... it's hugely speculative at this stage. The argument that CFE has "cold hard cash" is a furphy because that cash is going into the project. If the project fails, CFE will be worth nothing, or close to nothing. If you do some asking around, from industry types, you'll see the project is really a bit of a gambit. There was a reason why no one wanted the project - even when it was free - back when Robe owned it (They relinquished the tenements)
Market is rational..... after all, if there's a greater than 50% chance the company will be worth close to nothing 5 years from now, a 30% chance it will be worth around what Mr Ding paid for it, and a 20% chance it will be worth more, it will obviously sell for below the theoretical project value. Note these are hypothetical percentages. They're only my own estimations of chances of various scenarios. I make these guesstimations based on the fact that they will need to get past technical hurdles which proved to be insurmountable in the past, and the fact that they're selling magnetite ore (China has heaps of this stuff - if the iron ore market turns they will stop importing magnetite first before haematite)
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