pinnacle purchase

This increase in CFE's stake in Pinnacle is a sign of CFE's confidence in IO in West Africa.

It is evidence that CFE are confident of selling Marampa in the not-too-distant future. Otherwise, why buy more assets in one region when they are having trouble selling the ones they have?

A: Marampa's sale is not too far away.

Also, that CFE paid for part of the acquisition in scrip may be part of the sweetener. Whilst paying for assets when your share price is low is not generally a good idea, if the vendors of Pinnacle knew that a sale of Marampa was coming, and had an idea of the price, it would be a strong inducement to want CFE scrip.

A step to further position themselves for the next big project after Marampa, IMO. No wonder TS has been buying CFE on the market.

Thoughts?

Yaq