Bluff project: Indicated 11.2 million tonnes Inferred 10.3 million tonnes TOTAL 21.5 million tonnes
Potential sales 12 million tonnes over 10 years ie. total A$1.08 billion (12 million tonnes x A$90/- per tonne) or A$108m per year
Grosvenor West project: Indicated 41.6 million tonnes Inferred 32 million tonnes Measured 67.3 million tonnes TOTAL 141 million tonnes
Potential sales 67.3 million tonnes over 18 years ie. total A$8.75 billion (67.3 million tonnes x A$130/- per tonne) or A$486m per year
Total potential sales from just Bluff and Grosvenor West will be around A$595m per year. Doesn't $71m plus $8m seems a little too cheap ? Paying just A$79m for over A$9.8 BILLION worth of precious quality resources !
Bid Implementation agreement signed by previous board of directors amounts to an "unacceptable circumstance". ASIC should take court action immediately.
this takeover from the chinese has resulted losses in many Australians' superannuation funds.
those who sufferred losses should lodge complaints to ASIC without further delays.
many small Australian shareholders who sufferred losses bought into CLR because they believed in an Australian Company. they were going to be there regardless of its short term share price. they BELIEVED in the assets of the company. for the chinese to come and suddenly snatch that away is wrong.
ASIC must investigate the takeover and scrutinize the bidder carefully and in detail. something seems odd when large shareholders just gave the chinese control of the company and its resources at a loss to themselves.
those of us who are still holding shares in CLR still want to be shareholders in the Company and we are here for the long term. why ? bcos we believe in the company. we want to be part of an Australian company.
CLR Price at posting:
44.0¢ Sentiment: Hold Disclosure: Not Held
