Ann: Carbine Tungsten Engages Palisade Capital, page-16

As I see it CNQ is a $38 to $42 Million dollar company.

Mt Carbine is a world class tungsten mine. (Suggested 40 Year plus mine life)

Mitsubishi (JAPAN) have carried out about 18 Moths of due diligence and have agreed to lend CNQ $15 Mil USA to get the tailing plant running.

Japan INC have taken a 30% holding in VML.

The concept of a Tungsten processing hub in north Qld has been mentioned.

CNQ have spent App 10 Months trying to secure $55 Million in funding for the total project.

CNQ have now engaged Engages Palisade Capital to find the $55 Million funding.

I assume a company with the reputation of Engages Palisade Capital will carry out its own Due Diligence and decide if it should be a staged start up as per Mitsubishi approach or should it be $55 Million plant per CNQ management’s objective.

My interpretation of the Morgan’s report is the $0.20 target is with a fully funded project. (Dilution etc) What would be the target under the Mits staged startup? (No Dilution)

I am disappointed it has taken so long to involve companies like Engages Palisade Capital maybe after Due Dillagance we will end up with the $15 Mil Mits LOAN BUT WITH A CLEAR DIRECTION.

On the 7th October 2014 the Mitsubishi board approved the $15 Million Loan so with a 12 Month lead time we would be producing in October this year if not before.

Please DYOR.

A $200 sale sent the share price down 4%  just before the close on Friday. Whats going on?