Who in their right mind would buy our stake in WICET Stage 1 and not take the port capacity that comes with it?
Unless you are talking some sort of financing deal where they buy our port capacity for an upfront fee and we then pay a usuage charge- not sure there would be many interested parties in such a deal.
Im sure the WICET JV would also have pre-emptive type rights where other members can buy us out before we can sell to a third party.
WICET stage 1 is the lifeline of this company they need to hold it. Talking of selling it is ridiculous.
Legume having a look at the share price after the SK unwind. That wasnt due to a shorter. IMO the market is severly discounting our ability to raise the finance post the SK deal and the EU morphing into a banking system crisis. Its also why Im exepcting a big re-rate once a deal is done, be it a further equity sell down in tenements or a large stakeholder investment or both.
But the financial risks this company faces cant be swept under the carpet like everything is fine and dandy, but Im still holding because I agree that the assets are valuable and management have a track record of getting deals done.
COK Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
