thirty-eight cents huh?

Wed. 9th June, beer-o'clock

CFE closed at .38 today, so let's just look at some numbers here:

Cash - 72m
Receivables - 80m
Convertible notes - 9.2m
Lovely Lady Annie - 132m
Total - 293m
Less 23m payable = 270m
Less divvie 8.5c x 625m shares = 53m[my guess]=
Total = 217m

Options .432 {June 30th]=8m - out of the money so won't count

Share holdings [in April worth 65m] minus Krudd Tax = @50m

Total = 267m

Marampa - people are talking 500m so let's discount 50% = 250m

Plus the following:

Pinnacle 3400 km2 prospective for coal and 68km2 iron ore, same as Marampa
Sappes gold, naah, nobody wants gold
Corvette [gold] same as above
Australis - phosphate. Phos what?
Lady Loretta, Fe Ltd., Cauldron, IPO, Leichardt etc. [All in Australia so with Krudd Tax value = one slab of VB; without Krudd Tax 200m]

Okay let's add it all up.

My MINIMUM valuation comes to about 500m = 80 cents per share. You will cry if you hear my MAXIMUM valuation so I am going to keep it to myself.

Backing up the ute and filling it. Thanks Krudd.

Doomdog [the patient]