I suggest a study of the AJM saga might give you some insight into what might happen with CXO. Two big differences:
1. AJM production 220ktpa. CXO production 80ktpa
2. AJM Debt about A$250m. CXO no debt. Cash about A$200m.
CXO's cash will give it more staying power in a low SC6 price environment. So long as CXO manage their cash resources efficiently and the SC6 price starts to recover above US$2000/dmt. (CXO's rough FCF breakeven point) before the year end, then CXO will get back on track.
How to screw over short-sellers, page-689
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Last
10.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $214.3M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.5¢ | 10.0¢ | $646.7K | 6.441M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 120000 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 3590199 | 34 |
View Market Depth
| Last trade - 16.10pm 26/09/2024 (20 minute delay) ? |
| CXO (ASX) Chart |