CLE 0.00% 0.1¢ cyclone metals limited

fdl rio fmg and the mistery tennement., page-2

  1. 3,904 Posts.
    Ell it has been rising heavily since monday actually.

    CFE was a sleeper for months before that. In fact a week ago there was 3.6m vol on the buy side - of which 2.0m was a prop at 0.01c. So when you took away the never to be hit prop there was consistently about 1.6m buy 1.7m sell. The daily volume was typically less than 1.0m shares.

    Monday it took off.

    Rumors aboyut a trip to Beijing by the CEO mainly we thought, but the FDL news adds another dimension.

    Other rumors being the Vale price rise turn CFE's 1.5Bn @30% Fe tonnes of Magnetite from being a possible goer to a definite goer - keeping in mind they just extended the resource and recently proved the Silicon content in the Magnetite was manageable. Further extensions underway.

    Other possibility is that enough time has passed for the Ding transaction to be old news. A Malaysian or Singaporean Chinese guy who was going to fund things but would not play by the rules of applying to the Foreign Investment Review Board etc so CFE pulled out which sent the price south.

    Could be any and or all of them.
 
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