CFE 0.00% 0.2¢ cape lambert resources limited

Ann: CFE Assigns its Rights to Kasombo Copper-Cobalt Project, page-24

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  1. 524 Posts.
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    Not sure who that is addressed to but the div was cancelled see annual report sept 15

    "The Board regrets the cancellation of a second dividend payment however determined that current iron ore prices are prohibitively volatile and that the Company is unable to return additional funding at this time".

    I'm not actually sure what a statement like the one above is supposed to highlight. I mean if they pay the dividend and go under of have to do a cap raise to find funds what is the point. It's prudent to tighten the strings given the market price for IO at the time. Just as an example AGO Atlas Iron were trading at between 20 and 25 cents at the time (Jan 15) now languishing at 1.6 cents. Iron Ore companies have been hard hit and CFE is no different. The only difference with CFE is that TS has at least been visionary in his approach and has looked to diversify into green opportunities and emerging markets. I'm in for the long haul and strongly believe that this project (Kipushi) has several benefits including having the potential to be the first to produce Cobalt of all the other pretenders out there.

    GLTAH
 
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