The market did not react too well to this asset give away. The...

The market did not react too well to this asset give away.

The only reason I see for this transaction would be to add some minor relevance to the FEL shell company, keep TS his second income and a vehicle for capital raising.

Why separate out this project from CFE? - the excuse given in they want to concentrate on mining the other Cobalt reserves does not stack up as most of the company sold to are the same people. (A change of letterhead but from the same desks)

A quick scan of the quarterly report, the three directors were paid $80,000 for the quarter of an admin expenditure of $140K. So over half of the outgoings. 57% of spend went into Directors fees. That does not leave a whole lot of money for other staff to manage the asset they acquired.

The investment slate over the period was 2K, probably bought a new laptop for office.

This deal smells foul.