Would they not have had to disclose that before the voting???
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Yup, my thoughts exactly. Im assuming they didnt want Genesis to lower their offer. I suspect this 4% deal has been done without Genesis knowledge.
And Mitsui must have wanted out and possibly something to gain later.
Seems a step backwards to me. Getting it for 10m less doesn't mean it's worth 10m more... if it's not a case of capital raising for Mitsui to partner up in something, then what fathomable reason could it be?
The market seems to like it. I missed Friday's run up to 66 cents. Trying to work out why NZO is worth more now than 3 weeks ago. Still not convinced but I am guessing market seems to see that NZO now has circa $100m cash 62.5 cps, + 4% of Kupe ($35m) and some permits in the south that may or may not be worth something. Still do not know why they have taken the 4% stake in Kupe. Seems like they are rudderless to an extent and doing something for the sake of doing something...
Don't forget they have 50% of Cue but I agree they do have to prove to the market that they can add value to the company with the remaining cash.
Taranaki basin is a wildcat area with the ratio of success per drill being historically low. Canterbury basin, even if they hit pay dirt, would take years and
significant capex spending to develop.
They should look to Australia and make a swoop on a low market cap junior with no cash and good assets.
Buru energy would fit this criteria as they have to use their remaining cash to repay a loan to Alcoa.
Their Ungani oil field has alot more potential and their gas prospects are "world class"
I am wondering if the present chaos in Qatar one of the worlds largest gas producers moves the Canterbury prospect up the worth having a go list.
After all the worst our nearest neighbour is likely to do is bowl underarm in some weird game only a few countries care about.
Boop boop de do
Marilyn
Cushing continuing to acquire
http://https://www.nzx.com/companies...cements/302599
Unless I have misinterpreted today's announcement, he shed 10000000 yesterday.