Just elaborating on DBH comments, Patterson had a buy when SP was in the 60 cents. Not sure if the IPO of then Q to be floated but the return of that IPO in cash and equity of the float is less favorable to this all cash transaction so IMO 50 cents is still a good buy.
Don't forget apart from the other investments in the form of shareholding, they have a very valuable Marampa asset in West Africa, Sierre Leone I think. Some more work needs to be done there but at the rate of the Chinese hunger to secure future source of IO, surely this asset will slot in nicely to TS strategy of developing mine potential assets and on selling. Simandou between RIO and CHinalco is a good example that major growth asset can and are being found in West Africa.
TS did this last year when he sold the namesake mine to the Chinese and the where is the SP now? I was skeptical then because the dividends were too good to be true. I have been converted recently. :)
AJ
CFE Price at posting:
49.5¢ Sentiment: None Disclosure: Held
