Mac Bank finally out with an updated 16c target on the website I...

Mac Bank finally out with an updated 16c target on the website I subscribe to. Ridiculous lack of explanation as to why lack of explanation as to why the 10% sell down reduces the need for a CR and thus debt funding should support CVN's remaining 10% stake (the big concern previously)... yet target price and sentiment remains the same. Maybe the word "reduces" instead of "removes" is the issue, only time will tell if CVN have done well enough with the sell down to get carried through FID.

Maybe CVN is now such a minnow at 10% of the Bedout, unloved and irrelevant, that it's no longer worth analyst time to do more than update with obvious comments but not much more. Probably that summarises CVN's current position imo. Years of promised potential ground down through CR's, delays, sell downs and political risk into a Lassonde Curve orphan, beaten like a redhead stepchild (I can say that, I'm a ginger). The value proposition 'if' Darado gets FID next year and no more CR's are required is clear and CVN wwill re-rate. The risks that either FID is further delayed and/or CVN need more CR's to tag along with the big boys is not so clear.

Note to self, again, play with oliers and junior developers by all means... just don;t invest in them!

GLTAH