I really can't understand what all the fuss is about. This is...

I really can't understand what all the fuss is about. This is just more of the signature stuff we've come to expect from large Chinese companies, at least when investing in resource projects. All too often, they sign off on a deal and then start negotiating. This is more of the same argy bargy, but it won't change the outcome. The contract couldn't be more clear and unambiguous. Final payment in 2 years or no project.

Unless MCC has suddenly come to the point of view that throwing away 320m for zilch in return is a really good idea, the money will be paid. The longer they can string it out, the more they save in interest, but ultimately common sense dictates they'll pay. I expect they've crunched some numbers and found that incurring some legal costs may be worth it, but the end result remains the same. All Sage has done is to make the call that he's had enough of the games being played. For those suggesting he'll lose some skin in terms of reputation, if you can't identify the actions that CFE took to cause MCC to employ delaying tactics, you simply sound ridiculous. Put up, or shut up.

The 80m 'factored in/not factored in' debate also doesn't make much sense. Most analysts/brokers have arrived at a 500m valuation, to be revised upwards as assets are sold. Marampa alone would see the price targets rise to around $1.40. At the moment, CFE is valued at around cash and recievables. Is the market discounting the cash or projects and which ones and by how much? Imppossible to know.

All things considered, I'm not remotely concerned but rather pleased to see MCC being frog marched to the principals office to see some closure. MCC will pay and both CFE and MCC know it.