Jd your right in saying hat there is still hope and even with a poor showing with the SPP some hope remains. The CBA was not the only financier that was prepared to fund CCU and for mind it will come down to the groups ability get out there and pitch their case.
The pitch, POS $24au poz and threatening to trend higher Cost of production $19au poz $60,000,000 over 5 years at current POS rising to 7 - 9 years if POS breaks $30au poz Operating now with no work to be done + Exploration upside with significant anoms investigated that warrant further drilling (grid). "Can we please borrow $25,000,000 at say 9%" "Ar I'm not sure" "We'll how about if we can get our major shareholder that holds about 35% to go guarantee for good size chunk of the loan" "Mmm ok is a cheque ok"
The SPP matters much less than a complete refinance in my opinion. I've got some dry powder in waiting should they manage a miracle.
If anyone from this thread has time to have a look at LNG, I've been researching for about 3 months and I'm now in heavy. I don't post over there as the quality of insight is not that high, but its a riskier play that you can trade or hold. Be good to have few in it that I could actually bounce around a few ideas with
Cheers all
CCU Price at posting:
7.1¢ Sentiment: None Disclosure: Not Held
