Imo..With a looming credit crunch towards end of this year then into 2024, (caused by high interest rates= less lending) many mid-cap o&g companies will be looking to shore up their balance sheets with cap raises, or..(Why cap raise with no upside?)Instead, CVNs liquidity position(~$300m)wiil be the perfect catalyst for a takeover target for them. ..especially when Fid is announced next year (less risk)and Dorado has plentiful upside.
Imo, they will be re-rated to ~27c and upwards once FID is announced because of this.CVNs liquidity position next year will be far Too Compelling to be overlooked!!
FID timeframe, page-48
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Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $295.1M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.5¢ | 16.0¢ | $200.6K | 1.232M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 145000 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 1260877 | 11 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |