re: Ann: 11.04.27 Devonian Reef-Platform Comp...
Just as an indication of what is possible with JVs, we could look back at Metro Coal (MTE), which early last year was a small coal explorer with several exploration permits in south-west Queensland, and a market cap of about $30 million.
There was great scepticism when MTE announced that they had entered into a JV with China Coal to develop just one of their exploration tenements, and that China Coal were tipping in $30 million in exploration funding to gain 51% of that one project, leaving MTE with 100% of all their other permit areas.
It's quite feasible that CTP could do something similar, and eventually finish up with 5 or 6 different JVs, each funded by a cashed-up partner. I'd certainly be happy with that, but equally I'd be happy for a JV partner to take a 49% stake in the whole company for say $900 million.
CTP Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
