sorry to say this but CFE is a dog with fleas and the biggest flea of all will suck the company dry.
the best thing to do would be to get Evraz's shares and get a few decent holders together and boot sage and his mates off the board.
everyone knows that CFE will never do anything and all the deals he does with associates further cements his reputation.
just like Nick Bolton did, it might be worth calling a shareholders meeting and voting these clowns out. i bet on the day sage and co get booted the price will close its NTA gap, just put someone in with some respectibility and the market will respond.
the discount to cash is all due to management credibility. but if you are TS what do you care? you pay yourself a few hundred k and get bonues for handing cash out to your mates that give it back to you in paper bags so its clean.
its a pitty CFE didnt do more constructive things with its cash but it will always have that air of dodgyness as long as the current management is in place.
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