That is no phenonumon as it will also go down when shares go ex.
It went over $1.90 when ann of sale to adani. But when the bulk of the cash is to come at a much later date the market reacted accordingly. This is not me saying this it is the market.
The div is accepted as I said yesterday but be mindful it is not from cash earnt due to production. If this div was from production proceeds that is a whole different story and the sp would be re rated significantly.
The present $500 mill does not build a 20000 bpd gtl plant. So there must be more sales of non core tennaments coming for the board to be confident to give back cash when they need more than they have.
Or as AFU suggests maybe a JV partner with deep pockets are in the wings.
These are my thoughts only ... GT
LNC Price at posting:
$1.69 Sentiment: Hold Disclosure: Held
