my guess is the short seller is Quadrant , or the larger shareholders involved , they have the finance to do it
they sold their 80% share to Santos for $3.08b which means CVN 20% share was worth $770m
CVN has a MC of $570m at a SP of 37.5c including circa $150m in cash so they are buying back in at a EV of $420m including all CVN other leases thats a discount of 45% on what they sold it to Santos for plus Derado has now been derisked and the rest of CVN leases they get for free
great deal for them , back in the game with a Major partner who they were always going to need
my thoughts only but thats what i would do if i were them
who is the short seller, page-15
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Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $295.1M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.5¢ | 16.0¢ | $200.6K | 1.232M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 145000 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 1260877 | 11 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |