In my opinion this is great news, significant capital requirements now resolved, so there goes the potential need for a capital raising. CTP is turning a small profit with RC's hand fairly tightly on the expenses reins and the NGP is on the way so no need to lock in GSAs prematurely to shore up the business. Without the need to raise capital that also means Macquarie will have far less potential leverage against CTP in any TO negotiations since we won't be begging for additional funds to cover the Total commitments going forward. Can't see the share price staying at these levels with this amount of uncertainty removed and Macquarie still sniffing around. If RC has really pulled a rabbit out of the hat and in the near future announces a funding deal with Macquarie which doesn't involve them making off with the crown jewels then this will be a big couple of months for CTP.
Not sure whether Total walking away invalidates the (possibly invalid anyway) court case, but I suspect by the time CTP is finished legally stonewalling we will have a lot more important factors sorted out, such as NGP construction and GSAs. If the total value of the deal is significantly reduced due to Total walking away the US plaintiff may decide the action isn't worth it anyway, the wording of the (?unsigned) contract may be particularly important if the claim doesn't turn out to be quite as spurious as CTP makes out. diggingyourselfintoahole in maybeIhaven'tdugmyselfintoahole mode
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