I got burnt big time with CFR's Indian Iron Ore venture back a few years ago now. At the time, the operations looked very third world (if not 4th or 5th world if there is such a thing), the whole thing looked very unsophisticated and highly manual labour intensive, and this was at a time in the market when the SP of a penny dreadful explorer would rocket on any sniff of iron ore.
Once burnt twice shy on any Indian Iron Ore venture given my experience.
CFR Price at posting:
0.8¢ Sentiment: LT Buy Disclosure: Held
