Havent been on Hotcopper in ages but have started building a...

Havent been on Hotcopper in ages but have started building a position in CFE again after some time away.

I note that Macquarie have just initiated coverage of CFE with a target price of 18c (i know thats still really low... but its 50% above the current price, and may add some interest next week)

I've personally been very confused over the tax position for some time with CFE but the research note seems to make it clear.

i.e. if CFE get <56 million from MCC then they will get a tax refund ....if they get more than 56 million then they will owe some tax. It states in the report that should CFE get the full $80 million from MCC then they will have to pay $7million tax and keep the remaining approx $73million.

Looking at it another way then should CFE get nothing from MCC (highly unlikely IMO...) then they should be due about $17million back from the ATO.... so either way CFE is due 'some' money.

I have a feeling the next 6 weeks is going to be an interesting time to be holding as i think we are due a number of announcements i.e. GLY funds, and hopefully the end of the MCC/Tax situation , but maybe im just dreaming and hopeful!

Kasper