cfe valuation please comment

507m shares
36m options
Mcap=182m at 36c excluding options.


Inside Buying. 1633801 shares for $392,112 (24c)
UK Funds buying. 50,000,000 at 35c


CFE assets.

Cape Lambert Iron South Project
Drilling, looks prospective. Next to 3 Chinese sites, they probably would take this out if it has any resources. They sold the north project for 350m in 2008 at the peak.

Cash
127m

Tax Payable
63m

80m receivable
China Metallurgical Group Corp when CMGC receives approval and permits for Cape Lambert North.


Marampa Project in Sierra Leone
35% of project (Cape Lambert has also been granted an exclusive option to acquire the Marampa Project for US$200 million, less the initial costs. )

$25m feasibility study.

Feasibility study to finish September Quarter

Existing deep water port, ship loading facility, electricity and railway.

Site was mined for 30 years until closure in 1970s.

African Minerals (the other owner) worth 421m USD but they have other proven resource estimated 5Bn Tonnes close to Marampa.

COPPERCO. Price: 78m (paid) + 30m (WC) + 27m = 57m still to pay

Lady Annie Copper Project – closed.
Before flooding. 40 million tonnes (“Mt”) @ 0.9% copper (“Cu”) for 358,700 tonnes of contained copper.

30,000 TPY, at around $1 AUD per Pound cost.

Lady Loretta Zinc Project (25%)
75% owned by Xstrata.
So far no decision made by Xstrata

Sappes gold project (100%)

19.5m shares of Platmin.
Closing price 0.97CAD = 1.07AUD
20.865m AUD

25.5% of Tianshan Goldfields
26.84M Mcap (ASX)
6.8m AUD

40.11% of Niplats
Mkt Cap: 14.59M (ASX)
5.8m AUD

47.25% of Buka Gold
Mkt Cap: 6.43M   (ASX)
3m AUD