"On positive vertigan with a CR requirement for $100M ive got an almost fully derisked NPV of approx $600M so for a sale price of $300M that gives any prospective T/O party a doubling of their money. This $300M would give us a SP of $0.66"
I think you are being extremely optimistic that CTP could claw in $100 mil CR
Simply not possible in today's market.
Be lucky to get in $10 mil in today's market at this time of the year.
The problems are
Wrong time of the year
The amount CTP needs
How much dilution
What price
Not being taken up by Shareholders
MacB making a higher offer
CB
Ann: Market Update - Central Seeking Development Options, page-36
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