My concern is that the Chinese get control and they do a takeover...they have the money to do so...and they , as new owners, don't have to agree to the terms that CFE have with AML. The government , according to the article , is well known to Timis, and he is probably working with them closely, and this may put a barrier for the Chinese, or it may simply be a hurdle that needs to be 'taken care of'.
I talked with PR representative on phone and she said Marampa *(London Mining ) has DSO ore. I don't think so. I am sure they have to concentrate it. But African Minerals does have DSO. it will be exactly what the chinese want.
But if Timis gets the go...with debt gone more or less, then it won't have the problem that AML has now...and can ship IO cheaply.
this story has yet to play out. But I am not that comfortable with CFE and the deal they have with AML at the moment. Shipping the ore is necessary for the royalty. The concentrate is first class...yes....but haulage to port and beyond is expensive. Competition is still out there.
for now anyways.
An article I read today suggests that iron ore has a long way to go DOWN....and that could affect even Sierra Leonne.
I would really like to see some numbers thrown up by CFE but that is not their way....Not when things are going poorly. ... only when there is a chance to push the share price up. So I am not holding my breath.
rae915
CFE Price at posting:
10.0¢ Sentiment: None Disclosure: Held
