It's about time too! I'm still expecting a fair uplift in CTPO over the next couple of days to get them to fair value (even if the heads stand still, which hopefully they won't). I'd expect that a decent JV announcement with some funded drills & handover of some of the acreage (i.e. operatorship) would immediately put the options in the money, which would be a VERY nice return from these levels. For everyone.
p.s. Someone mentioned earlier that there is no cashflow. Yep, but there's some $474,306K pa less outgoings now (according to last year' annual report).....which can only help in that respect ;-)
CTP Price at posting:
46.0¢ Sentiment: LT Buy Disclosure: Held
