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0.1¢ cyclone metals limited

It is not The latest financial states they expect royalty to be...

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BarrenBuffett

3,956 Posts.

184

04/05/17

07:25

Post #: 24456894
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Originally posted by stash ↑

Cash Balance
As at 31 March 2017, the Company had approximately A$1.7 million (including FE Limited cash of A$494k which is consolidated in accordance with accounting standards) in cash at bank.
Investments
Sale of Mayoko Royalty
On 13 February 2017, the Company advised shareholders that it had sold its 100% owned royalty in the Mayoko iron ore project for A$1,000,000. The sale is subject to the formality of the new owners signing off on the transaction, which is currently being progressed.
So, Is the up-to-now unpaid Mayoko Million included in the cash balance of "approximately A$1.7 million (including FE Limited cash of A$494k which is consolidated in accordance with accounting standards)"? If it is, CFE has about A$1.7 million in the bank.
If it's not, the math sez CFE has about A$700,000.00 in the bank. And that's the t s's annual salary.
Who, or what, is gonna crack first?

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It is not
The latest financial states they expect royalty to be received this quarter. After paying their exhoberent fees they expect inflow of 600k cash.

I don't trust them anymore. I'm out. Should have followed your lead stash and sold at 3.9c

CFE Price at posting: 2.7¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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