RE:RE:RE:RE:Formal EvaluationYour experience in these matters Miftee are definitely appreciated.
I mean, however one slices it now, based on the report, current CGX market cap is WAY over bloated given their remaining 32% interest in Corentyne. Is the port actually worth the remaining amount baked into the share price? Is Wei-1 opportunity currently baked in? Wish I knew the answers but I do not. Either way, given the new report, I doubt we ever see $3 CAD ever again unless Wei-1 is an absolute Guyana basin game changer (i.e., over 300ft of oil. Not condensate... and confirmed with fliud samples).
Lord knows the current valuation from H&P for the entire Corentyne block is WAY off the $1B many people were hoping for. Instead of Frontera wasting ~$50MM USD on pointless dutch share buybacks, they should have been pumping that money into Guyana offshore wells.... like you know, an appraisal well on Kawa-1 to help make Corentyne look more promising.