Think it was a logical call. And would rather a suspension than trading blind while we wait on decision. So I'm happy. I don't view the delay as a negative.
I think trading also supported this. If the deal was close then we would have seen a spike. All boats leak. We saw strength but only enough to indicate a deal "soon" imo.
But I think one thing we can read into it is that it's still a goer in some form. If it was Noble withdrawing then they couldn't keep delaying the news. It would be a swift announcement.
The second observation is that the keep grouping the "off take agreement" in the annnouncement with the funding. In reality terms of both funding and offtake were released to market many months ago.
What's their to "finalise" when terms are already disclosed unless their are ammendments like with the warrant strike price. Im still tipping the offtake agreement to have changes in either grade, minimum delivery, or price. Not that it's a bad thing.
Lowering the 48% benchmark would be a positive. Not sure how much we could blend and supply at that rate before dipping below and being fined by Noble. Remove that pressure. Lower the cutoff grade to ~42% imo. Also pump up the interest rate on the debt component. And let KAB take it or leave it.
KAB Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
