This was my biggest fear re COE.
The whole transaction with APA is a commercial joke. APA assumed design and construction risk (hence the transaction in the first place).
When it went to crap, for an unknown reason COE agreed to share in remediation costs for 2 years, and now worse, they are buying the dysfunctional plant (thereby assuming risk that they didn't want to in the first place). This is further exacerbated by the fact the risk is known.
18-20c is disgusting.
Only thing worse is the market knew before COE announced it.
The obvious question now is why would APA (Who operate plants and you'd therefore argue are more informed than COE) be selling something that could have been fixed and earn them the tariff. Sounds like they want nothing to do with it, and COE has decided to buy it instead of arbitrating on their failure to deliver the plant. Toothless
Cooper Energy sounding out brokers for a raise to potentially buy back Orbost, page-4
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Last
16.5¢ |
Change
-0.010(5.71%) |
Mkt cap ! $435.6M | |||
| Open | High | Low | Value | Volume |
| 17.5¢ | 17.5¢ | 16.5¢ | $319.0K | 1.893M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 1096863 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 205301 | 4 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| COE (ASX) Chart |