capital that should have come by hook or by crook, from their contingent payment deed
WM is now valued on paper at over $1.5B .. it's in writing.. it forms the basis for which BHP formulated the T/O consideration and what's more, justify the price paid for OZL shares.. the fact is OZL allegedly induced CPN to sign the deed in order to secure WM and in fact, the intrinsic value of WM would have been approx $220M at the time of OZL extracting it from CZI.. from $220M to over $1.5B.. and not a cent, not a mention, not a passing acknowledgement
an eye watering value uplift by any standards and an absolute travesty of justice that the company 'induced' to part with the asset did not hit paydirt as a result
Yet, CPN, allegedly stood by and allowed a massive realisation of value to literally slip through their fingers allegedly, without so much as a fight and our future capital requirements were all there for the taking
opportunities just do not come along like that.. you have to bleed the big end for every cent when you have them sniffing around because once the deals done and all the back slapping and winks winks about future deals is complete, you have to go back to your shareholders cap in hand.
brace for impact..
200M SOI by end of FY2024
CPN Price at posting:
14.0¢ Sentiment: None Disclosure: Held
