Echo chamber here is nuts. There are a lot of if buts and maybes...

Echo chamber here is nuts. There are a lot of if buts and maybes brought on by the latest quarterly that put the future value of CXO in doubt. There will certainly be a threshold on this decline where it makes sense to buy, just make sure you know how to price that risk in.

CXO will be an incredibly complex beast to run if it plays out to capacity, with multiple mines running simultaneously. Do you put your faith in the current CEO with no experience with this type of thing? I don't. I believe it is still Australia's most shorted stock and I think it will be all too easy for the SP to go lower. With the new mine plan they were looking to transition to the next mine in 25/26 (sourced from the quarterly call), but we haven't even got a damned DFS for the thing. They're talking CY 2024 for FID and thats best case. Then a year after that at minimum to construct the mine. Then you have to rely on the DFS being accurate (and we've seen how CXO's DFS played out with the current mine).

Ask yourself. What happens if the economics of BP33 aren't great? CXO are spending $40-$50m on it in pre-works. Becomes a gamble.

Disclosure: Bought @ 4c and sold @1.67. Have been looking to get back in but nothing is looking promising without crossing too many hurdles.