Glad some posters are stating that its just an MOU. its non binding so legally not one bit of it is enforceable...
even if it was a conditional tenement sale agreement its still not concrete as there is a due diligence clause. presumably MCC can walk away after conducting DD if they are not satisfied.
one must ask why Ding walked last time - something mustnt have stacked up. let just hope MCC doesnt. IMO the $400m is a great deal for CFE. Magnetite isnt as straight forward as people think. As many have posted CAPEX's on magnetite plays are huge - look at GBG, globe, ARH etc for a few - the projects are into the billions of dollars.
the whispers that i have heard is that CFE will be putting the $$$ into a DSO project in africa.
i will be watching with interest!
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