CXO is shipping DSO - to help cash flows whilst their plant comes online to produce SC6. SP got ahead of itself as it does for most near term producers just before production. SP was pricing in future production like it was already going out the door. When CXO is producing its expected 180kt of SC6 or equivalent, the SP will be priced accordingly. My timeframe is 12months from here. Anyone that can look longer term might see that CXO are bedding down transport/supply chains and commissioning plant thru the rest of this fin yr. This 'delay' will see the SP lower imo. Retail investors that are watching the sp fall and cant understand why, will probably bail over the next few months - selling into a falling sp. I am waiting to see if the 82c level will hold. I will add there and at lower prices if they happen. Need a lot of time to pass before CXO are producing at nameplate and I think that is what is really required before investors stop selling and start buying.
CXO Price at posting:
98.0¢ Sentiment: Hold Disclosure: Held
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