re: Ann: Sale of Leichhardt Project to settle... worst case...

re: Ann: Sale of Leichhardt Project to settle... worst case scenarios are being used here.

i.e - mcc never pays
ato wants 95 million and
marampa never sells.

reality is the above is probably not going to happen.

CFE holds $70 million in current cash.

Will get another 10 million by March.

It has holdings in ASX listed companies (CXU,GLY,IGS,LRS,FEL,OGL,GSZ) worth roughly $35 million.

ATO will most likely settle for around $40 million (which would be claimable against any future profits).

CFE owns a royalty associated with AKI sale ($1 per tonne) - recent reports suggest that EXXARO are fast tracking to possible 10 million tonne per annum = $10 million per annum.

MCC case is going to arbitration - surely a settlement of 30 -40 million will occur in 2013.

It 100% owns Maramapa - i think we would all agree the value of Marampa is not $500 million - talks continue with potential trade sale - $200 million would be very conservative.

CFE owns substantial exploration assets in Sierra Leone - a stable iron ore mining country with recent track record. These tenements would be absolutely sought after by many and could alone potentially cove the current market cap.

CFE own Cape lambert south, phosphate assets in QLD - minor assets but worth million none the less.

ALL OF THE ABOVE and CFE's market cap is $144 million. this is why i continue to buy despite the horrific paper losses - 2012 has been a shocker of a year after the AKI sale (which proved to be an amazingly timed deal). Tony Sage is a dealmaker - if you didn'd or now don't beleive in his ability to do a deal than you should not be in this stock.

BEST OF LUCK TO ALL>>>>>