guys
I am been thinking long and hard whether to post any opinions as I know it’s a time of heightened stress but I notice some are claiming the SP has managed down for a takeover . I wanted to post some thoughts for those who are open to consider
1. don’t fall into anchoring bias - that if the price was 45 and now is 22 it must be cheap . The last two results have gutted the valuation on both a resource potential reserve point of view.
2. this program would have used a bit of cash so cash levels which some are quoting would be less
3 any future programs / growth will likely be funded by a weaker SP which will be dilutive
4 STX actual reserves are largely locked in with Wesfarmers at lower prices so comparisons to WGO takeover paid per PJ should be assessed carefully
5 the margin loan and the last sale or 2.1 m shares means SN has halved is position - could the margin loan have been a way to sell out in a less obvious manner ?
without doubt - significant value has been stripped from STX. Not sayings it’s worth less or more than todays price - but it is possible todays price is closer to fair value than many may believe
gas shortages are everywhere and a lot more severe on the east coast - have a look at Comet ridge - it’s reserves , the east coast gas price , it’s JV partner to assess how the market may value something worth much more much less in short term.
important to be able to adjust your views with news flow
I only add this because one of the major downfalls of this thread ( always was the case. ) too many cheerleaders and not enough detractors and the ones that did ( myself included a couple of year back ) are attacked and ridiculed
it may well indeed go up , it may be taken over , but it may be value now - assess on current reality - a task each person should do individually
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Last
22.8¢ |
Change
0.003(1.11%) |
Mkt cap ! $650.8M |
Open | High | Low | Value | Volume |
22.5¢ | 23.0¢ | 22.5¢ | $783.3K | 3.438M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
29 | 861092 | 22.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
23.0¢ | 1286285 | 64 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
28 | 1007334 | 0.225 |
25 | 1663885 | 0.220 |
29 | 2143031 | 0.215 |
26 | 2908943 | 0.210 |
33 | 1088282 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 1216477 | 62 |
0.235 | 2422634 | 24 |
0.240 | 397063 | 9 |
0.245 | 200000 | 1 |
0.250 | 597028 | 11 |
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