Mr Oz
Sometimes the sweet fruit hang low
MEL don't have to do a whole lot other than build a 100km pipeline ... a decent margin no doubt since they dont have to build an LNG plant!
Lets be realistic ... not too many explorers fund well development, a pipeline, LNG facilities and possibly a power station.
I think the business plan as I understand it to date is quite fine ... te reserves can be expanded when there is a market imo ... and I could just live with a takeover premium down the track.
The route to Gladstone is too crowded already imo.
Cheers
Dex
valutation + comparison to peers, page-10
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