Post by
kcac1 on Dec 26, 2024 8:01pm
Catalyst gets 41% of the $30mm
Which is $12.3mm plus they are making $4+ profit over current share price. It likely has other advantages for them. I think CC is just doing this for the much needed cash flow as you know they came up with this crazy scheme and likely to do it again, if nothing changes. After the this scheme 2.0 is closed, Catalyst will still own 41% of the shares and obviously does not give two chits for share price. As it is public record they are trying to break up the company and selling the pieces. The fact it is taking a long time could either be good (many bidders) or bad (no or few bidders) for the price that the pieces of the company bring.
I just can't see a deep water port that is less than ten years old, in one of the best locations on the globe and costing about a U$Bil to build, selling for less than the cost to build.. Surely it will bring more than the cost to build it. How much would that port cost, if the build started today? I would think at least $1.5Bil plus the time and hassle for permits and unforseen problems that are already solved with a pre-built modern port that can handle both the largest oil tankers and largest container ships.
The current market cap of FEC is U$448Mil. or less than half the cost of building Puerto Bahia which is 98% owned by FEC.
Comment by
Frank007 on Dec 26, 2024 8:07pm
Btetter add in the value of the ODL pipeline. As well as the 50% of Geopark Eqidor ....and 40,000 production ....forget about Guyana and you already are at about $40 per share ....lol