whilst the Orbost production numbers are very disappointing, it seems L1 Capital is gung-ho and bullish on Cooper's prospects.
They are now up to 17.15% - that's a big investment, and a high conviction.
Obviously they are confident that Cooper will get Orbost to eventually hit nameplate.
What they will have deduced, is that Cooper's cashflow, even based on the poor performance of Orbost, is cashflow positive and profitable - ie so downside has some limitations.
Ann: Change in substantial holding, page-2
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