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There are a lot of asx companies going around at the moment that...

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HAC30

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15/08/18

21:14

Post #: 34962906
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Originally posted by theraven ↑

Back when CFE assigned Kasombo to FEL citing CFE was too busy to focus on it, I queried the value to shareholders of this transaction.

After reviewing the financials of FEL it appeared that without this asset transfer it would no longer be financially a going concern and TS would lose his directors fees.

FEL was made of all but one director that was already associated with a company located in CFE offices. Effectively a letterhead.

The most recent quarterly again shows no staffing costs so I will repeat my question. What value does the asset dilution to CFE shareholders of assigning Kasombo give the shareholders not named Tony Sage.

Feel free to call me negative but I am the type of guy who confronts the co-workers who eats other peoples lunches even if it is the ''boss". This deal still stinks.

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There are a lot of asx companies going around at the moment that are essentially set up to purchase projects at arms length (from mates), with deals solely designed to line the pockets of them and their mates. Happening particularly in Africa at the moment and always talk a big game with buzzwords/terms galore, but never deliver.

All funded by shareholders.

CFE Price at posting: 2.9¢ Sentiment: None Disclosure: Not Held
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