So $500m cash end of Jan. AUD down another 6%... so let’s call it 525 cash as of today. Plus deposit of $80m aud. Makes us worth approx $600m today.
this is a win win situation.. if the deal goes ahead , it will be because the oil price has risen and banks are comfortable lending with the appropriate hedge or in the unlikely event that Petrobras reduces the cost some how to make the banks lend less.
other scenario is the deal doesn’t go ahead because the banks won’t lend at this price and we revert to cash value plus get the deposit back because it was out of our control.
bottom line, my view is if we get this asset, it will be because it adds shareholder value = price up or if we pull out due to financing then we go up as well>1.
Make no mistake here, the banks are full of shale debt(which is about to default),.. there is no chance they will take on more risky oil debt.
PB
My thoughts
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Last
$1.91 |
Change
0.020(1.06%) |
Mkt cap ! $1.530B | |||
| Open | High | Low | Value | Volume |
| $1.91 | $1.96 | $1.91 | $9.330M | 4.849M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 103998 | $1.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.92 | 29475 | 5 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.92 |
Change
0.020 ( 0.91 %) |
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| Open | High | Low | Volume | ||
| $1.92 | $1.96 | $1.91 | 1808462 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| KAR (ASX) Chart |