I suggest a study of the AJM saga might give you some insight into what might happen with CXO. Two big differences: 1. AJM production 220ktpa. CXO production 80ktpa 2. AJM Debt about A$250m. CXO no debt. Cash about A$200m. CXO's cash will give it more staying power in a low SC6 price environment. So long as CXO manage their cash resources efficiently and the SC6 price starts to recover above US$2000/dmt. (CXO's rough FCF breakeven point) before the year end, then CXO will get back on track.
CXO Price at posting:
18.8¢ Sentiment: Sell Disclosure: Held
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