I may have way too much time on my hands during this Covid19 period but at least it allows for some interesting analysis. I'm a subscriber to Morningstar and am reviewing Santos. MS has a valuation of $10.30 per share on STO with 12% of this attributed to Dorado ie $1.24. With around 2bn STO shares on issue this translates to a value of $2.48bn for STO's share of Dorado. Santo's stake is 80% of Dorado so that translates into CVN's share (20%) being worth $620m. With CVN having around 1.5bn shares on issue that values CVN's share of Dorado at $0.41 per share. And that excludes value of Pavo, APUS etc.
At the current SP of $0.21 CVN seems a great buy but also note STO SP of around $5.35 is trading at around 50% of MS valuation. There is a lot of blue sky in both companies but I'm resigned to accepting fossil fuel companies are a tad on the nose. Like WPL where MS have a valuation SP at around $35 and is trading around $22. An interesting theme in all 3 companies.
Please advise if there are any errors in this analysis.
I may have way too much time on my hands during this Covid19...
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Last
19.0¢ |
Change
-0.005(2.56%) |
Mkt cap ! $339.8M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 19.5¢ | 19.0¢ | $113.1K | 595.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 230333 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.5¢ | 393982 | 5 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
19.3¢ |
Change
-0.005 ( 1.32 %) |
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| Open | High | Low | Volume | ||
| 19.0¢ | 19.3¢ | 19.0¢ | 263992 | ||
| Last updated 15.40pm 14/06/2024 ? | |||||
| CVN (ASX) Chart |