Looking at what has been publicised on the contingent payment from OZL I believe it would likely qualify for the $20m payment. The deed of arrangement is full of legalise and the like but talks about disposal and control to a 3rd party (in this place BHP) so I'd say there would be an argument that a takeover is a disposal or change of control of the asset.
The other side of the proposed takeover is the OZL One Tree Hill prospect running into CPNs tenements... as well as the other prospects (Duchess etc). If BHP is successful the Caspin tenements would be obvious acquisitions if a discovery is made.
Interesting times to be a Caspin holder
DYODD
CPN Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
