I think there may be some truth in your analysis fancypants.
There is no doubt that COI has a very good gas project at a time when "gas is good".
In addition to your analysis, I also suspect the market has not moved as yet due to lingering uncertainty on FID..
They have brought in substantial 3rd party debt which would have to have some form of recourse to the assets.
Hopefully everything plays out in the planned time frame. Otherwise they may not end up owning the assets.
This of course is worst case scenario but, even thought still small at this stage, there is still a risk.
We need FID.
News: COI Comet Ridge Says Mahalo Acquisition Agreement With APLNG Is Now Unconditional, page-9
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Last
17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $188.3M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 17.0¢ | 16.5¢ | $76.57K | 453.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 88307 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 691952 | 3 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| COI (ASX) Chart |