IceyDoctor,
You are perhaps the only poster apparently asking the most importent question.
Why would anybody in their right mind (never mind anyone making more than a 500K pa salraly + bonuses - unheard of for a junior oiler of CVN's market cap) put out an SPP immediately before announcing such good news?
The buy out of the Thai partner inferred a 16c valuation yet CVN traded below 10c - even after disclosing 'an imminent farmout' of Phoenix.
The SPP dilution to 8.2c must have been a kick in the teeth to long term shareholders who got in at +50c.
Myself - I've just entered the share register. I think my entry price more than covers Thailand and a free carry to Phoenix is a bonus. However, I don't plan to hang around long enough to see the management get too many more 30% a year salary increases. Would love to sit in the room at the AGM and listen to the remuneration justifications.
Ann: Farmout of Phoenix Blocks , page-10
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Last
16.5¢ |
Change
-0.020(10.8%) |
Mkt cap ! $295.1M | |||
| Open | High | Low | Value | Volume |
| 17.5¢ | 17.8¢ | 16.0¢ | $3.525M | 20.49M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 441949 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 2048593 | 4 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |