Just had a look at the Leichhardt copper project which CFE just purchased from liquidated Matrix Metals Ltd.
Really an absolute bargain acquisition ( total consideration of 8.5 M$ for the purchase) considering that the Project had an NPV of 155 M$ at a copper price of 3.00 USD/lb.
We also got all the other mining equipment including processing plant and highly prospective exploration applications in the Mt. Isa region.
On top of that, Matrix Metals upgraded the processing plant to a 9000t/p.a. facility before going bankrupt in 2008 which CFE managed to pick up for free now.
The annual net operating cash flow was projected to be around 26M$ with a 6 year mine life.
To get that entire package for a meager 8.5 M$ was a great bargain purchase and I would not be surprised to see CFE realize a 4-5 bagger on that investment alone.
And then there are all the other projects, Marampa, Sappes, Lady Loretta, Mayoko,etc.......
Outstanding buying opportunity at these levels imho.
Cheers
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