re: Ann: Significant Iron Mineralisation Inte...
Okay, let's think about this.
If you were interested in buying one of CFE's African iron ore deposits for $400 to $500 million, why not just buy the WHOLE company for very little more. 625 million odd shares plus options, at today's closing price of 38c comes to about $240 million. How ridiculous!
So you offer 60 cps and then settle for 70 cps and you pay about $440 million for the WHOLE company! This only works if you can keep the share price UNDER 40c. You can't accumulate because this will drive the sp up.
Best of all, you cap the price by throwing in a few million shares just above the offer [you don't REALLY want to sell them] and let TS upgrade the infrastructure, get the JORCs done and you save big bickies in the process.
Hey, that's what I would do!!
[The tiny little miscalculation is that those whom control the company won't let it go for under a buck a share, maybe a lot more!]
Patience shall be rewarded with this one.
Cheers, Doomdog ----------------------------------------- PS -- Hey Tony, how about a share buy back -- say $50 million worth should get the sp up to 60-80 cps.
CFE Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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