Peter111 I was one of the few who sold out some old bottom of the drawer holdings for a loss and jumped into CFE at 19 cents, so those shares are on a nice profit at the moment. However they only bring my average down and I'm still under however due to the diversity of CFE I have faith for the future and still rate them as a Buy.
For example this latest announcement in relation to GSZ, correct me if I'm wrong, it appears that their intent is to mine 350,000 tonnes a year which would equal about $40 million dollars plus of Lithium Carbonate. The JORC of 18 million tonnes works out to about 50 years of mine life. I don't know what the costs and profits of Lithium mining is but CFE has 19.5% so hopefully we get some return out of that for years to come.
Also of interest to me was the last paragraph in the announcement about the tax assessment. Which said :
“In the interim, the payment arrangement will allow the Company to focus on its business objectives with a minimum of distractions with its immediate objective being to monetise the Marampa Project in the 1st quarter of 2013.”
CFE Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
