Just to add some facts to the calculations & conversation.
The 2021 Capricorn Annual report states:
- 2500 members per annum
- Annual turnover of each member - $978,000 per annum
- Total annual turnover of Capricorn co-op members - ~$2.5 Billion per annum.
If we do use 0.5% transaction to be netted by SPX, for say only 20% of Capricorn's turnover - that equals $25M per annum. Using the net percentage (via Warnies calc) and a conservative percentage of the turnover reported in Capricorn's own report, that is just the maths.
Don't have a view if that's good or bad - just using those assumptions, it is what it is.
Before I go, I am not saying that will be, or the Capricorn arrangement will come to fruition, or even that I know the assumptions will play out as facts.
But not knowing if this is going to happen is the inherent risk being invested in here, and why we are a 2c company at present.
EB
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