dividend payment, page-32

hi elzephyrus and all,
thanks for the input.


CFE will get the final 80 M$ on the grant of a mining lease and related construction approvals, something which they're working on and will happen within 2 years.

In my calculations, i forgot to include the already paid commission fee, which is 30.5 M$.

The current netto cash, excluding the final 80 M$ payment by MCC and remaining commission which is pending, is following:

1. Scenario A:

240 M$ cash
- 40 M$ AUD tax ( excluding tax for the 80M$ payment which is pending

--> 200 M$ current netto cash + interest

--> 40c/share - 48c/ share justified sp for the cash alone imho.



2. Scenario B:

CFE netto value when final payment is received:

240 M$ AUD
+ 80 M$ AUD payment
- 10 M$ AUD remaining commission
- 56 M$ AUD tax

--> 254 M$ AUD netto cash value + interest

--> 50c/share - 55c/share justified Sp

This calculation doesn't take additional value into account which could be created by Cape Lambert South or other acqusitions.


Great buying at current prices with an outstanding discount to the real intrinsic value of this company. Value investing in my opinion.

Cheers