WTI headed back to $65And even without news on TransMountain, WCS is right at $60. At that level, CJ's dividend is more than rock solid, and they will be generating excess cash flow to pay down debt.
I wonder if CJ may elect to NOT sell that last royalty, instead retaining it to maximize cash flow? That is now an option, and not that bad of an option either. But if they do sell it, the value is increasing every day with the rapid rise in Canadian oil prices.
The market has no choice but to recognise the value here, so waiting, while collecting a fat dividend, makes for a very easy investment decision.