blue skies for cfe and its actual value.

Back to some serious numbers for CFE as we wait.

Allright so it was a quite nite for CLIO in London. Closed at 27.45p.

As for CFE, i still believe 70c is justifiable with this single transaction with MCC. Note that in Feb when CFE's mkt cap was $135m, MCC approached them with $400m for their 1.56 bT deposit.

Here's a quick number crunch below:

Net cash price: $400m
Tax: -87m
Finders Fee: -38m
Transaction Fee: -0.5m
Total cash: 274.5m
Proceeds from Options: 74.7m
Cash: 13m
Total: $362.2m
Fully Dil shares: 517.6m (excl 2 x 3.3m options @ 90c & 1.40c)
Value/share: 0.6997c or Apprx 70c

Resource is 1.56bT & with proceeds of $400m, implied value is 26c/ton. Once they bank the money from MCC this week hopefully, it has a huge upside.

All the best to holders with Dow up 3% today, I see blue skies for CFE.

Cheers