Perhaps someone should have another go at reading what the notes of CTP are saying. You would soon realise in what position we are finding ourselves in.
IMO there is a huge difference between what the market cap of a company is and what the BALANCE SHEET of that company is saying.
Is anyone thinking that people willing to contemplate and/or be doing a takeover will look at what the market cap of a company is saying when it is just based on the share price of a company, or on what a balance sheet is saying and the value of assets we are showing on our balance sheet plus a premium.??
DYOR.!!
Read below.:
""Strengthened balance sheet
The group received net operating cash flows of $8.3 million and continued making accelerated
debt repayments during the half year, with $9.5 million of principal repaid during the period
and a total of $21.5 million repaid in the full calendar year.
Subsequent to the balance date, the Group’s loan facility was extended for a further 12 months
to September 2021, significantly improving the net current asset position relative to that
reported in the half year report as illustrated below:
Consolidated Balance Sheet Statutory balance sheet as at 31 Dec 2019
Impact of loan extension
10 February 2020
Balance sheet
after loan
extension
$ $ $ Current assets 29,420,586 - 29,420,586
Current liabilities (93,086,714) 67,700,963 (25,385,751)
Net current assets / (liabilities) (63,666,128) 67,700,963 4,034,835
The net working capital position also includes $10.9 million of deferred revenue liabilities
associated with the market value of pre-sold gas and customer take-or-pay balances which
do not represent a cash liability to the group as they will either be settled by the physical
delivery of gas or forfeited by the buyer under the contract.
There will be no settlement in cash and no associated cash outflow other than marginal production costs. The net asset position has improved further subsequent to year end, with $7.7 million received in January as final settlement for the proceeds from the farm-out of a 50% interest in the Range Gas Project.""
CTP Price at posting:
10.5¢ Sentiment: None Disclosure: Held
