The reality of the situation is such that the SP will just drift lower following the consolidation. Mark my words.
Instos nor sophs invest due to dollar amt of SP. Thats just stupid. These groups invest based on fundamentals.
The real story here is the need to prop up SP in prep for further CRs. Again mark my words. The business simply doesn't have the cf to support it growth plans. Rinse, repeat.
In my opinion the local kingfish price has reached its peak or is close to it. Its had a phenomenal run. This means npat and cf has to come from revs. And more rev means more capacity/vol which in turn means capex. Better to sit on sidelines for now and wait for evidence of asian sales/demand.
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