RE: RE: RE: SHARE PRICE Forum has to be an open dialogue as you said. But trial to discredit opinions without facts is unhelpful for forum participants. I could say that you are probably a major share holder of CFO, even a person related to CFO management but I don’t want to play this game.
The facts are that CFO shares have lost 37% since the PEA disclosure. The market value of CFO is now at 22 $M. If this project was as profitable as you say, there would be tons of offers (take over or joint ventures) from majors mining companies who have a lot of cash right now.
If we take the Osisko Malartic PEA figures, they assumed a 22,7% IRR at $775/ oz. To have the same 22,7% IRR for Clifton Star project, the gold price has to be at 1550 $/oz. I don’t know a bank or financial group that will take this kind of risk and Clifton Star project needs at least 515 $M to start the mine.
A serious investor would not put money in such project with less than 22% IRR computed at a conservative gold price over the mine life (let say $1100/oz). It’s my humble opinion.