End GameWho knows what the end game is gonna be? But a nice weekend debate on if fec/cgx could make to 1st production. Doesn't seem likely...or does it? Let's just speculate in the following hypotheticals (all $ in US):
1. Cgx gets sold to a major for $1 billion or about $3 per share. FEC gets $750 million. The major gets Cgx's 32% in C blk. Maybe grand canal dwp gets spun off to shareholders.
2. Fec sells 38% of C blk to the major for $1.2 billion (same valuation as Cgx's 32%). At this point the major has 70% and Fec has 30%
3. After big Wei results, Fec's sp goes to $30-$50. Fec could do a secondary offering of say 40 million shares and receive $1.6 billion (midpoint sp of $40).
4. So just considering numbers 1. & 2. Fec would have $1.95 billion to fund its 30% of a $6.5 billion gross project to bring C blk to 1st production.
5. If you consider 1. 2. & 3. Fec would have $3.55 billion to fund its 30% of a $11.83 billion gross project to bring C blk to 1st production.
As for Cgx making it past Wei? Who knows? I had em done after Kawa but I was wrong.
Is any of this gonna happen. Probably not...but it could.
All imo. Glta & go Wei-1.