A reasonable scorecard ... for those who bought at 10c (rather than the recent CR SP) ... most investors averages are way above 10c Its a classic tactic by management to choose a convenient time frame to justify their generous remuneration packages and incentives. Overall a satisfactory presentation, but its hard to see any immediate stimulus for a SP surge. While Mahalo is a work in progress with STO, its not expected that it will be online before 2025 - the MD stated that it was the company's aim to try and bring Mahalo North on line first, sometime in 2024. Thats a long hold for recent CR investors before any gain. Once online the expected fully commissioned flow rate, assuming they get the expected access to the pipeline, will generate gross A$50m per year ... nice but until STO takes Mahalo fully, it doesn't seem that COI full potential value will be actualised. Of course, if the politicians try to have it both ways - get the gas and put an uneconomic price cap in place, all bets are off. Further CR were not ruled out, even if the SP hasn't moved significantly. I regard COI a a HOLD not a BUY at this time.
COI Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
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