psych101,
At the moment, nothing is firm yet (according to my broker). Probably why our SP is wandering.
Valuation of $4B for Quadrant is too optimistic for me - its 2016 profit was only $135M, although this was achieved during one of the worst oil price crashes in history.
Perhaps their 2017 profits will double (given the $4B valuation) - not sure - it would justify such lofty valuation of the company.
I am sure potential investors will be keen to review their 30 June 2017 financials. Lofty valuation is what you would expect from a Macquarie entity - they are there to maximize value for their "millionaire" staff.
Any way, lets wait and see what next week brings, after their Sydney and Melbourne roadshow.
Ann: Outtrim Project Update - Belgravia Prospect, page-11
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