agree the option/concept of selling was something they were willing to entertain because they know they do t have CAPEX for it all.
this probably signifies an intent to sell down assets rather than, wait and see if they get a good offer mindset.
I only see it as positive news for CVN.
I have been privileged to see previous Euroz papers on CVN which have highlighted above and valued cash and Dorado alone at approximately double our current share price.
Santos selling down highlights this to the wider market and brings CVN rights into play for a takeover.
i know that AC won’t recommend a cheap sale, so any suitors would have to take a chunk on market. So I’m not sure CVN then remains the cheapest route into Dorado.
I also wonder what if any tactics CVN may have up there sleeve to influence the price with the preemptive rights. Is there potential for CVN to increase its stake if Buffalo is successful? (not likely I guess, but let’s not rule it out without consideration).
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Last
15.5¢ |
Change
-0.005(3.13%) |
Mkt cap ! $277.3M |
Open | High | Low | Value | Volume |
15.5¢ | 16.0¢ | 15.5¢ | $116.0K | 737.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 1043733 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 395397 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 1043733 | 0.155 |
19 | 1472561 | 0.150 |
19 | 770144 | 0.145 |
10 | 597421 | 0.140 |
2 | 437000 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 395397 | 11 |
0.165 | 1244786 | 11 |
0.170 | 800549 | 14 |
0.175 | 907828 | 8 |
0.180 | 597382 | 9 |
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