I agree it’s structured like a loan with coal repayment, but from the ASX announcement, there’s no indication CRN will receive any additional cash beyond the $150M +interest. The pricing terms (spot/fixed forward) appear to guide revenue recognition, not future payments. So economically, it seems more like a prepaid sale, not a flexible supply deal. If there's more in the CSA that allows for further cash flow, that’d change things — but based on what's disclosed, I don’t see it here. I'd love to be wrong.
CRN Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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