This tread seems to indicate that there are not too many holders of cov in HC.
As a current holder of Cfe I agree that it is hugely undervalued. Take a look at the "presentation" under cfe's announcements I think from memory cfe has $75 million cash,$116 Million cash recieveables, $50 million other mining assets and $320 million unlisted assets+ $500 million net worth.
The share price at 37.5 cents puts a market cap of around just $200 million half of it's break up value.
However it would seem that buying into Cov may be a cheaper way of picking up more Cfe.
Cov shares exhanged at the 2.4 rate for each 1 cfe share at 13.5 cents equates to picking up cfe shares at 32.4 cents each which based on the closing share price on friday is a 15.74% profit before buy and sell costs.
Even at 14c or 14.5 it is still a cheap way to get into cfe That's my two bob worth time will tell.
COV Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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