I have to admit I was getting pretty down on Central as the potential for the Amadeus farmin looked to be slipping away, but cudos to LD and his team for getting the deal done. And what a cracker of a deal it is!
Ticks a lot of boxes, from debt repayment and exploration funding, to potential to provide support for the AMGP. In general there's a lot to like in the negotiated transaction, which obviously took a lot of time and effort to make happen.
While efforts are being made on Zevon, it's hard not to think this and Dukas, the truly blue sky opportunities to skyrocket the Company, are slipping further and further out. For long term holders who have been regularly told how exciting things are soon going to be every quarter, this is quite frustrating.
As is the lackluster movement in the share price, up only 14% on the day from the year low. Volume was strong, but you can't help but think a lot of folks were happy to take their money and run. Of course it wasn't exactly blitzed in the news, with no mention in the AFR or any of the big publications (if anyone has found something please share). Pity it wasn't announced 2 months ago when the SP could've started from a higher base of 14 cents, but ce la vie I guess.
It is however a big deal, and the story needs to be sold better to get some traction in the SP. I assume analysts are beavering away updating their research notes (they may even start valuing Range more appropriately!), and hopefully this will provide Mick with the ammunition he needs to really start selling the CTP story to the big players.
Without being labeled a ramper, if LD keeps ticking the boxes the share price will eventually fall into line. And boy do we need an uptick, as <20 cents has been very dull for far too long.
Good luck to all long term holders, we sure could use, and deserve, some decent SP gain soon. Cheers
CTP Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
