Ann: GRANT OF ATP 2031, page-9

Not investment advise and readers should do their own independent research very carefully.

Unfortunately one of my recent posts is still pretty relevant...

https://hotcopper.com.au/threads/an....4313088/page-9?post_id=34463556#.W4obNssUn1I


IMO CTP will struggle to turn a modest profit in 2019  because of  cash and working capital constraints and the legacy of limitations imposed by Mereenie, Palm valley and Dingo surface facilities and the 44 TJ/day constraint on the Mereenie Spur.


Bear in mind that we appeared to need the share capital earmarked to drill the second Mereenie horizontal well to pay for surface facilities and that we increased our MAC "Overdraft" by 5M just in case.

Ooramina  is being drilled so we can retain the tenement and will cost a lot of money for surface facilities and even a small pipeline (Refer to historical Dingo costs.


The reason I mention this is that IMO it is very important for CTP shareholders to have a realistic view of the value of the company in case there is another offer.


The chairman at the last AGM as I understood it maintained the view that shareholders should have taken the MAC SOA.


In any case the 2019  profitability model really needs to be clearly  communicated by CTP.


I have hesitated to post lately because I am of the form opinion that it should not be up to shareholders operating with a pretty sketchy set of presentations to make be drawn into acting as proxies for CTP .

GLTA

Regards OGP