Hi Mat,Thanks for that. There have been quite a few...

Hi Mat,

Thanks for that. There have been quite a few analysts/brokers putting out BUY recommendations and many of those also have a 12 month 80c price target. They tend to place values for Marampa and Mayoko at around 13c per tonne, giving valuations in this case of 91m and 117m respectively. No doubt, this is because they haven't been JORCed to date, are yet to be at the pre-feasibility stage and most importantly, are not yet sold.

Marampa will have the first two boxes ticked in the very near future and with Tonkili roaring ahead, the upgrade of the infrastructure currently being fast tracked, it won't be long before Marampa is swept up as well. 500-600m is the figure Sage commmonly cites and one based on sales of similar projects. Once Marampa is sold, these analysts will be converting their 91m valuation to an additional 500m+ in cash. By extension, that translates to a SP target of around $1.40, which Sage has as his own 12 month target. Mayoko also has existing rail to a deep water port and as we all know, bulk commodities are all about infrastructure, with daylight second.

By the way, I was amused to find my brother-in-law had put some hard earned into CFE. I don't think I've met a more fiscally conservative, loss averse character in my life. He's done very well for himself over time, but I've only known him to invest in the bluest of the blue chips and even then, only after pouring over the numbers for a month of Sundays. "I may miss out on some of the big wins, but I like certainty." I spoke with him earlier this evening and he's considering putting in more. When this fella starts putting money in and probably regards government bonds as reckless high risk gambling, it's time to bet the farm lol.

Peter

By the way (2). Just to be a pedantic SOB, it's actually spelt "Whet your appetite". Whet is derived from "whetstone" (grindstone). To whet is to sharpen.
Great post Mat.
Peter, get a life lol.