dj carmichael buying up ctp, page-4

hi grae
what makes you think djc is buying?
djc report of 15/6/12 has a 12 month sp target on ctp of 33cents.
From their discussions with r cottee his key priorities are
1 implement a clear focus and planning to company activities.
2unite all stakehoulders,board and management.
3 deliver value accretive FARMOUTS prioritised by UPCOMING RELINQUISHMENT REQUIREMENTS [amadeus]to reduce capital cost pressures and equity dilution to shareholders as it is estimated 150m of commitments are planned over the next 5 years.

This ties in with comments from rc at the sydney briefing on 12/7.12 as recorded by god1
ctps priorities are
1 get the litigation out of the way.
2actively pursue the farmin negotiations around surprise and the southern georgina.
3 complete the ept and 3d/2d seismics at surprise.

The amount needed to realise our vast resources is quite daunting,etc,,

imho,r cottee has a lot to do,no honeymoon period,he has hit the ground running.
So what can we expect in the short term?
1. an agreement with cp.may take a while.
i dont see a total sell off of the pedirka coal.
how do you value this asset?
more likely ,a farm out or sell off of part of the asset.
rc is on record saying other parties are interested in the coal.
2.FARM outs.we may have to wait.rc is saying 1or2 farm outs this year.given that surpise is in the frame ,i expect ctp will wait for the ept/3d seismic.

My point ,give r cottee some time
its a big mess to clean up
he has stated his priorities
lets see how he goes
we paid a top price
he has my support
but give him some time

cheers