Finally a plan that has paid off!
AWE sells Sugarloaf USD$190mil + USD$9mil + USD$5.2mil (unused hedging) = AUD$291.5mil
526.7mil shares on issue
imo Fair Value = AUD$0.74 (MC $390mil)
Shorts got badly burnt on this news surprise.
Meanwhile the talking heads saying oil glut, gloom, POO going under $20/bbl, yet the buyer sees value. Starting to believe the money than the talking heads.