my guess is the short seller is Quadrant , or the larger shareholders involved , they have the finance to do it
they sold their 80% share to Santos for $3.08b which means CVN 20% share was worth $770m
CVN has a MC of $570m at a SP of 37.5c including circa $150m in cash so they are buying back in at a EV of $420m including all CVN other leases thats a discount of 45% on what they sold it to Santos for plus Derado has now been derisked and the rest of CVN leases they get for free
great deal for them , back in the game with a Major partner who they were always going to need
my thoughts only but thats what i would do if i were them
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Mkt cap ! $259.4M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
15 | 3210543 | 14.0¢ |
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Price($) | Vol. | No. |
---|---|---|
14.5¢ | 457480 | 12 |
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15 | 3210543 | 0.140 |
5 | 506871 | 0.135 |
6 | 466916 | 0.130 |
6 | 332539 | 0.125 |
3 | 145178 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 482480 | 13 |
0.150 | 657786 | 10 |
0.155 | 591376 | 16 |
0.160 | 1419527 | 21 |
0.165 | 242972 | 8 |
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