slipped in the new shareholding yesterday

Hmmm,

Amongst all the hoopla over the Q Copper IPO, African Minerals provided a change in substantial holding notice showing that they now own the 24m odd shares that are the first part payment for Marampa.

So those 24m shares will be eligible for the upcoming dividend payment.

Why is my gut feeling that the dividend record date (as yet to be announced) will be after the special meeting to issue the remaining shares to African Minerals?

Using round figures there were 500m shares on issue prior to this - say a $50m dividend = 10c per share

Now 525m shares with a $50m dividend = 9.5c per share dividend.

With the further 30m shares issued the $50m divi becomes $0.09 per share

Nice work for African Minerals - they sell the remainder of Marampa to CFE for what was stated to be $31m worth of CFE shares - BUT - they knew all along they would be in for at least $2.4m dividend (24m shares x $0.10).

I like the deals being done, the potential cash box that is being developed, and the philosophy of buying assets from distressed companies at great prices - but I still have some reservations about corporate governance here.

Often when there are a handful of like minded players that control a company, the company is used for the main players gain at expense of the other shareholders.

I would love to see CFE not go down that path