re: Ann: Sale of Leichhardt Project to settle... Can I vent my...

re: Ann: Sale of Leichhardt Project to settle... Can I vent my spleen!

What say:

1. The ATO insist on $95M? They probably have no reason to settle for anything less than full tote odds and the govt of the day is desperate for money from anywhere/everyone. The issue of good or bad advice is something CFE will have to sort out with its advisors.

Bugger. The ATO dumps a demand.

2. There goes the $70m cash. Now re the $35m shares in public coys. It would be interesting to see what that might realise in this bloody horribly soggy market...ahhhhhhhhhhhh. And the companies are not the crown jewels of the ASX. Let's accept $35M and give it to the ATO (... who will probably put their hand out for more given taxable gains on shares just sold!!!). ATO settled, some loose change in the till. Salaries covered.

3. MCC do absolutely nothing but frustrate proceedings. This I doubt would be expensive to them and all the while CFE suffers. Ouch!

4. The royalty would be nice but the timing ???

5. Marampa is certainly worth every cent of $400M if someone is interested in buying it. IO prices are dead at the moment, SDL look like closing out the deal with the Chinese so competition between the triad (vale, rio, bhp) is under threat. India is a hope but new turf (languages, cultures) for CFE IMO... regardless, any prospective buyer will be alert to CFE's plight. All very very sad...

Loyalty is a wonderful thing. And maybe the management team were exactly what CFE needed with $400M cash in the early throes of a GFC. However, management seem to be wanting IMO at the moment when they have no cash and markets are fragile.

Continuous disclosure requires IMO an update re ATO ... even if its as simple as "31 October has come and gone and more recent schedules suggest December resolution". A couple of sentences might allay doubts

I'm looking for the door.

Sorry, have a good one!