I was typing on the run again. I cant even understnad my own post so I shll tale my time and post again.
Essentially. the 158 million Alcoa general damages claim is across two JVs. Tap have not been notified what % is been sought from each JV but assume its 50/50 and the claim was paid in full (buckleys chance) and sssuming the insurer paid zero( unlikely) then tap would be liable for approx 8.75 million.
With the Brunei asset sale well underway, and the Rangas block also a non core asset, I am sure this will raise more than enough to offset this and the Burrup claim .
Tap feel claims are likely to be immeterial, if infact anything at all so if people arent buying due to this I suspect we will see a quick move up once these matters are sorted.
Nice close today. I suspect we will see 1 dollar plus sooner than later
TAP Price at posting:
95.0¢ Sentiment: Buy Disclosure: Held