The other potential elephant in the room is the Gas Sales Agreement with Stanwell Corporation... Correct me if I am wrong but I do not believe this has been finalised as yet... Last years Annual Report (p 49) states that there is a potential $20m liability... The actual wording is as follows:
"If CML (Comet Ridge) and Stanwell are unable to come to an agreement on a GSA (Gas Sales Agreement) or neither party commence negotiations for a GSA, then a cash settlement of$20 million, indexed for CPI from March 2014, would be triggered on or before 8 November 2021 (Payment Amount)."
The 8th November 2021 is not very far away and close to the Mahalo deal settlement... I assume that COI will hopefully be able to change this date in the light of the Mahalo acquisition deal (if they have not done so already)...
COI Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
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