This is easily the best quarterly CTP has released since becoming a producer and the market couldn't care less. Suggesting CTP would have a $10.38 gas price would have been ridiculed a couple of years ago yet it's now a reality.
Rough calculation suggests gross profit of around $17M for the full year, and depending on D&A and one offs, net profit somewhere around $6M. Repeating this HY for a full year would be more like $14M net profit and EPS around 2c. And we're trading at 5.2c. Seems crazy to me.
I suppose TH's band of 8c hopefuls are still sitting above CTP dumping into any strength.
Time for a buyback IMO. $2M would buy back 10% of the company at what I consider well under fair value.
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