Exactly! If ESG was going to be sold for $1.20 it would have already happened IMHO! DC has said a number of times that they are "being looked at" so obviously they have already had 'discussions" with other parties and may well have rejected low-ball offers. While I think $3 may take a year or two of further development of our assets to achieve I don't believe ESG will sell for less than $1.40-$1.50 near-term (3-6 months) and most likley higher than that.
Brokers are saying ESG has a "massive" resource and that a far higher price than any of their target prices would be achieved in atakeover. And to reinforce ESG's value .... for those like me who are still hanging out for the flow data, a fellow investor pointed out the obvious to me the other day. In addition to all the MOU's being signed that point to good and economic flows and an increasing reserves base, we have a LNG project being planned (and approvals sought) and land purchased for the same. Plus the very obvious "endorsement" that came with Santos coughing up another $25m approx in the placement. If the data that they have daily access to was no good would they have done that???
H
ESG Price at posting:
83.0¢ Sentiment: LT Buy Disclosure: Held
