Touchstone Exploration Takeover Rumours (TXP)


Touchstone Exploration Chart

Touchstone Exploration Takeover Price

Touchstone Exploration Takeover Forum Posts

Could all be put in place for a low-ball takeover.
Is TXP a takeover target now with CEC approval
Guys, Don’t think that you’ve missed the boat, it’s dirt cheap at this price. Market is too clever and rerating, the market looks 18 months ahead. Pity the rise in one way, I was adding as much as I could over past couple of months. In 18 months, we should throwing off $150m cash flow. it wont be too difficult to pay $25m in dividends as they wont be able to spend all that money on exploration. Thats about 10p per share dividend to start with. That alone will justify a 200p share price at 5% yield and underpin 200p per share. I think the possibilities open up for us when we get there (deals/mergers/licensing). Either the above happens or someone comes in now with a takeover approach at a cheap price (below 150p), the window of opportunity before we have Cascadura online makes us vulnerable. Share price needs to get to Finncap 137p target quickly.
I’m pleasantly pleased that we have had follow through sustained buying since the news earlier in the week. As I hoped, one of the most bullish charts - bowl formation playing out. We might stay a day or two around 70p mark, but 80p should be reached next week. The share price is dirt cheap, when Coho and Cascadura are in full production, should have 150m cash flow before exploration costs, with excess cash going to dividends. PS: nice to see oil price recovery today also. Next year is going to be best ever for TXP, let’s just hope we get there independently of a takeover.
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