Spot on sb.
I’ve been topping up between $1.20 and $1.30 based on similar calculations to yours above.
After the capital return the share price would be $0.50 (based on today’s market) backed by cash of $0.60 per share and a contingent receipt from the Woodside sale of $0.80 per share.
Plus any upside of the upcoming drill.
Ann: Capital Return - Notice of General Meeting, page-38
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