some very loose math here.
CVN share of capex is A$580m
shortfall (60% funded) A$240m
opex to production A$80m
less cash on hand (A$140m)
cash required $180m
if that was all funded by another cr at 30c, total shares on offer would be roughly 2.4b
based on current 2c reserves that equates to a 30c share price (valuing 2c reserves at A$15/bbl)
a sell down of dorado would be cheaper as it reduces the cash requirement.
based on what we know now, a higher valuation doesn't make sense, obviously a good apus result changes things
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some very loose math here.CVN share of capex is A$580mshortfall...
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