Its well know that the cfe management were in a hunt for a new...

Its well know that the cfe management were in a hunt for a new project for some time, that’s obvious, its what any of us do. If you sell your car/house what do you do? Look for a new one, a better one. A long time ago the board knew the sale of the iron ore project in the Pilbara to be imminent & you can be sure they would have researched possibilities here in Australia but settled for the Marampa project. Thankfully it wasn’t a hasty decision as in the last company announcement it stated “The proposed investment in Marampa comes after more than eight months of due diligence by the company, including several site visits by senior technical executives & former Chairman, Ian Burston.” I think Viceprincess has got it right that in the next 12 months cfe will be way over $1.20. The directors have/are the right thing by adding value to the company by drilling out the sth tenement & this Marampa deal. It forces Everaz to pay more for it or if they don’t make a play for it appears cfe will be worth a lot more with a bit of time.
I do have a question:
Evidently the last highest price paid by Everaz was 76c & so that’s the lowest takeover bid they can make how would this price be effected if the dividend is paid out to the shareholders?
The answer to this probably isn’t important because in likelihood they will offer more.