How can you pay $US45 million or so equivalent for 30% this...

How can you pay $US45 million or so equivalent for 30% this project? Then pay a final price equivalent of $US200million to acquire 100%.

Sierra Leone is as politically risky as you can get.
As far as I know Sierra Leone is famous for Blood diamond...maybe now Blood Iron Ore.

And a final price of $US200 million equivalent is to me ridiculous and daylight robbery.

Its still an exploration. Read carefully and you will see that this is still an exploration play...ok its brownfield not greenfield. Well a brownfield in Sierra Leone is probably valued as a greenfield in Australia. I think for $20million it may be worth a punt.

Why hasn't CFE used this money to takeover another Australian Iron Ore pre-producer/brownfield explorers like Aurox, Atlas Iron, United Minerals or Brockman etc... or maybe go to Brazil. If Africa at least Namibia, Botswana where there is a track record of stable foreign investment.

Also there is mention that there was a historic mine from 1933 to 1975 in the area... guess what it belongs to DELCO...which the deal does not include. This is a poor deal to me

I am not suprised if there were dodgy deals on the side...or an insider deal for a related party. I cannot see how CFE can waste money on this. Maybe this is why Ian Burston resigned just a week earlier.

I am hoping that Evraz comes in and takeover CFE. I cannot see the team of T Sage, T Turner, B Maher and P Landau developing this project or even coming close to developing it. If I Burston was still here I would have some hope...

I an holding for another 3 months in the hope of an Evraz takeover ... if nothing comes then I am out at whatever price.

Honestly guys I wish us all good luck in the future and hopefully we get a profitable exit point. This has been a f up deal.

Not happy Sage!!!

but then I am just a minority shareholder...my opionion does not count in the end