CXO has great potentials going forward provided the ramping up...

CXO has great potentials going forward provided the ramping up of Finniss ramp up is on target and does not have any unpleasant set-back.
The sharp discount on the $0.40 spp was dissapointing and it raised $100m from institutional investor but only $11m compared to the targeted $20m from shareholders which was not surprising as the shares were trading below the $0.40 spp price.
The $111m raised will be utilise for (From equity raising presentation)
✓ Progress BP33 early works, such that FID can be announced in 1Q CY 2024 (alongside its revised feasibility study outcomes)
✓ Perform several plant optimisation initiatives and sustaining capital projects associated with ongoing mine operations,
refurbishments, process redundancy and debottlenecking
✓ Fund Core’s FY24 exploration program targeted at both brownfield and greenfield exploration opportunities
✓ Complete study works to better understand growth projects including BP33, Carlton and the Finniss plant optimisation initiatives

The cashflow from the Finniss plant is insufficient to finance the progress of the BP33 project and FY24 exploration program, hence the capital raising.
Going forward each of the quarterly update will provide how the optimisation of the Finniss plant is going and the progress of BP33 and other exploration works.
CXO is certainly in a much better position of many of the Lithium wanabe companies but the sp is underpriced in comparison to the wanabe companies