re: Ann: Chinese Mining Fund Signs MoU for St... Denpal
I agree 100% that the upside has been significantly reduced and I was also very disappointed when I first heard about the announcement last night's at the AMEC presentation.
However I dont see it as a reason to panic sell. In you post you have calculated a value of $3.15 per share and while it is not $6 it is still well above the current price.
My belief is that after a few days the share price will bottom out and slowly move back up towards $2 on the back of announcements indicating the project is on tack for December shipments.
While you and I are disappointed Ian Finch and the project manager(patrick ??) were very happy with the deal after the AMEC presentation. They saw it as a huge positive for IFE and TRF. I can only conclude that they know a bit more about the companies prospects than you or I and while IFE may take a short term hit , longer term they were very upbeat.
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