I don't see the missing offtakes as a problem yet at all, given...

I don't see the missing offtakes as a problem yet at all, given the demand for the product industry wide I can only imagine SB & Co are waiting for the right partner. Why rush and settle for a poor deal? Everything that's come out so far points to on track timeline for beginning construction (unless I'm missing something) towards the end of this year. The FID will be coming shortly (within 3 months) with funding close to that as well.

As far as the SP moves are concerned if you are a LT holder you should be feeling pretty good right about now, we've got a solid business plan now with the only hurdles being good off-takes with prepayments for the mine (DFS said this is what they're targeting - via cash or equity debt) and then FID. Not to mention with all the FCFs forecasted there is a real possibility of dividends in the future. However until the FID and all that come out I would think CXO will be trading between a +/- 5c range from here (barring any major macro sharemarket moves).


P.S for all those wanting to know the details of the price floor and ceiling and concerned about missed profits. From the DFS 'It contains an agreed price floor and ceiling for the first 2 years" so the effects won't be long term.