meanwhile our friends at PSL have come out with a sell recommendation
This is a good development for CPL after its preferred EPC contractor went into administration.
However, we continue to see CPL getting backed into a corner with a growing debt balance and up to $350m to complete the funding of the first stage of the project.
As a result we continue to recommend that catalysts such as the granting of the mining lease be used as selling catalysts. Our price target remains $0.25/share
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