Ann: CFE Chairman reaffirms commitment by increasing Shareholding, page-22

The current market cap of $12 million is well under fair value of $45 million in cash, receivables and listed investments. Which would be a market cap of around 7.5 cents.

Anyway you look at it regardless of what's happened in the past CFE sits well undervalued.

In cash alone we should be trading at around 4 cents per share. Current cash $7million plus $18 million in loans to 3rd parties due to be repaid in 6 months time equals $25 million.

This alone is worth over 4 cents per share which doesn't include roughly $20million worth of listed investments.

Even at a $45 million market cap or roughly 7.5 cents which is what the value of CFE's assets are worth this doesn't take into account any upside or future royalties CFE is entitled to.

Good luck all I think once a few catch on and read today's annoucment we will see a steady rise towards fair value which is no where near current share price.

Also good to see directors taking major holdings in the company.