catalyst for a re rating, page-5

Yeah if TLM not keen on PNG long term, the sooner they feck off the better in my opinion. The best they can offer to us otherwise, is to prove up their PNG asset values, sell and thereby provide a good look through value to nearby assets (hopefully well-valued) - not an entirely bad outcome.

My main question on CMT, is, does the market know something I/we don't bitzer? I don't like the market, but I fear the information asymmetry - the market is dumb, but it dtermines the price, and it also lacks integrity which makes it dangerous in the sense that ill-gotten information can drive it, and does so on a daily basis in my opinion.

Ideally you want the market to pile in late, after you've loaded up. But are the little buy-sell meerkats dumb with good or bad information? That's my main question on this one. Then beyond that, I'm with you - what/when to re-rate?

I am looking at sinking a much bigger amount of funds into this, in competition with 2-3 other candidates. I don't see much downside on CMT as most of its assets valued zero, which is great, but ideally would be great to expose to upside too! (and you and I and a few others judge it likely here in CMT).

Cheers