Thanks for bringing up something other than the ‘Tall Poppy’ and his pay packet.
I don't know if it was ever actually up for sale. No doubt it would have been sold if the right offer was made.
My research showed that it was intended for production and listing as a separate entity on the London Exchange. I guess the IPO listing would have got the production happening?
The IPO was out the door (as Iron Ore was on the way down). Timis turned up with an offer too good to refuse. Timis being an Iron Ore guru in my opinion had bet the Price had bottomed. Probably CFE believed that too. They must have. It hadn't and Timis had to shut everything down instead of going broke as he did with AML.
Anything can happen with Marampa. In the arbitration processes at present. However, the current price of iron could possibly provide a favourable outcome for CFE. It is dead at the moment, but I think likely to be good, as I am sure Gerald Metals will want some action on their investment (which has given them 75% allegedly), although I have read varying amounts as to what that is. All amounts, at least double plus to that which CFE has put in. The Sierra Leone Government would like to see that up and running too, I will bet.
Best deal seems to me, Timis out (paid in full, plus) and a Gerald Metals CFE joint venture. It’s still a big deal to me. 5.3m wmt/pa and an old ASIC of around USD$57 (from London Mining financials).
Another reason perhaps as to why this Kipushi Deal is so important. Plenty of money for a rail spur line (taking the haulage out) and a deeper port or new port to be had (taking the barging out). Shangdong would be interested in the Port possibilities and the SL Govt would lend a hand too.
My thoughts on it.
Waiting on the ‘milestone’ announcement.
CFE Price at posting:
2.2¢ Sentiment: None Disclosure: Held
