cfe valuation please comment, page-4

Thanks jto, however you missed some points.


1, CUO deal is $106 million. ----$30 million working capital can be returned to CFE after the deal done.

quote:

"IRON ore explorer Cape Lambert Iron Ore has beaten stiff competition to acquire the assets of failed copper miner CopperCo for about $106 million.

The explorer has agreed to pay about $27 million extra on completion of the acquisition, bringing the total consideration to about $106 million."


2, CUO's copper asset is not Lady annie project only. it has total 500 000 t contained copper, not 350 000t, with a potential to double this reserve subject to further exploration.

quote:

CopperCo’s projects in the Mount Isa region include the Lady Annie mine area (Lady Annie and Lady Brenda deposits), the Mt Kelly Project (Flying Horse, Mt Clarke, Kelly Workings and Swagman deposits) and regional prospects (primarily the Anthill deposit, Buckley River Project). The global project currently encompasses oxide copper reserves of 142,970 tonnes from combined oxide and sulphide resources of 40.2Mt at 0.9% Cu, containing 348,200 tonnes of copper metal.

3, historic phosphate prospects within the Lady Annie Project tenure and the Company is considering strategies to evaluate the potential of these phosphate occurrences which lie very close to the copper mining and processing infrastructure-----maybe better than MAK.

4, most importantly!!!!---- more than 41,600 km2 untested area with huge potential.

quote:

Wholly owned CopperCo subsidiary Australis Exploration Pty Ltd, holds 56 exploration licences in Queensland and the Northern Territory, covering a total area of 41,600 km2. To date 11 tenements have been granted in the Northern Territory.