"Nothing changed and I believe if they start digging Kipushi and the Zambian project you ll see everyone coming here buying cfe "
I think if you look at the announcement for the CR, they outlined circa $950k for kipushi project expenditure and circa $1.05m for administration (numbers are rounded from memory, not the actual numbers). If you look back further in the CFE announcements when they acquired the Zambian deal, they had about 12 months (6 months from signing term sheet to exercise option and further 6 months from then to spend $$) to spend US$500k on exploration there. CFE also has the obligation of funding US$7.5m towards the Kipushi tailings project (see announcements between March to December 2017). Just going by the details in their quarterly, the CR announcement and what they've said they have to spend on certain projects etc, they don't have enough cash, even with the $2m raise.
Then there's the added complication of doing a CR of $2m at $0.055 when the SP is languishing at $0.04 or 37.5% below the asking price for the placement...
I wonder if they have a contingency plan in the event the CR isn't successful due to the SP staying low??
Unless a rabbit gets pulled from the preverbial soon, it's not looking too flash...
Like all holders, I'm hoping they do find said rabbit and we can all profit on this one!
Just my observations and opinion DYOR.
CFE Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
