with aki going into t/halt this morning with the expectation of...

with aki going into t/halt this morning with the expectation of a $300 million takeover, this makes you think about what this means for Cfe.

short term - 60-70 million from their shareholding and even more certaintly around their $1/tonne royalty coming into effect in the short term. cash holdings of approx $100 million post transaction.

it may also be the trigger for IPO of marampa, as demand is obviously still there for iron ore assets in west africa. aki project is longterm probably bettter quality than marampa but marampa has rail access, bigger JORC, mining going on around it, etc - This would vindicate tony Sage's value of $400 - $500 million for Marampa.

Though this could bring out a bidder for the whole lot.... $300 million would possibly do the job.

either way - a 330 million cap for 100% of CFE continues to be great vlaue (IMO)