STX deal in a nutshell, page-8

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Justadabble

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14/08/23

22:47

Post #: 69335260
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Originally posted by ccmfc: ↑

The main error is a simple one, considering broker valuations and targets as the key metrics for this as opposed to the market value over a period of time.

I expect a conclusion by the independent expert that the scheme is fair and reasonable to TPD holders.

The secondary error is total apparent lack of consideration of risk in relation to Walyering. While I don't think this will be the case, what if there is a production issue or the project conks out early, as this area has once before?

Another issue is that there is ultimately no guarantee in relation to any of the exploration ground. It costs money to drill and there is a need to take out $7.5m for the drilling.

If the prospects comes up with gas or condensate, great. If they don't, it is some of the Walyering funds down the drain.

Condor is quite early stage and needs a lot of work.

Ultimately there is sense in the amalgamation of the JV and there is a somewhat healthy premium overall on the average price from the last twelve months.

That's reasonable when there are risks in everything and some apparent financial risk, however minor with Walyering delays.

Am I jumping for joy? Not exactly.

After a difficult last twelve to eighteen months am I satisfied that this is a good or even great result compared to where I personally started with this? Yes I do.

Do I think there is some potential value in SpinCo? Yes I do and I look forward to seeing how that works out in the coming month or two.

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Broker Research Analysts use the same methodology.

Spinco is a nightmare. What will Spinco do with the proceeds if Gurvaltes is sold? Wind itself up? I doubt it.

i get you are fatigued, good news though, you have one vote like all other SH.

TPD Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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STX deal in a nutshell, page-8

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