STTCOMP EXR FA Long
Elixir Energy - CSG Mongolia.
MC = $25 Million.
SOI = 500 Million shares + 110 Million options EXROA.
Share Price = .05c
Cash = $4.4 Million 30/6/19.
EV = $22 Million.
Elixir Energy Ltd announced the commencement of its 2019 drilling campaign with the spud of the BO-CH-1 chip-hole last weekend.The 2019 program has been expanded to include two to four stratigraphic chip-holes in addition to the drilling of two firm and fully evaluated core-holes. Two rigs will be used and the option to drill a third core-hole remains.
K1 Capital valued Elixir at $0.22 per share (with a range from $0.10-$0.43). This figure was based on a risked exploration assessment, drawing from the November 2018 independent prospective resource estimate and market trading multiples for peer companies."
Following Elixir’s presentation at the Good Oil Conference in Perth a Paterson’s analyst highlighted Elixir as “one to keep an eye on” in a brief note to clients. The analyst suggested that “Elixir may be a good way to play the China gas thematic — something that has been missing since Sino Gas’s departure from the ASX”.The note explained that “The EXR team is technically astute and includes Stephen Kelemen (former manager of STO’s CSG business), Neil Young (ex-STO management, and has worked in Mongolia for the last eight years), and the ever humble Richard Cottee (Non-exec Chairman)”. Patersons’ recognition that a key strength of Elixir is its management team and board, is key to the success of Elixir. It comprises an exceptional team of CBM industry experts.
"There are some major opportunities not just for Elixir’s Nomgon IX PSC, but further afield in Mongolia to serve the growing clean energy sector in Asia into the future. While they offer huge potential upside, these longer-term opportunities are still far from investor’s radars.
What is in focus now are the upcoming catalysts for value creation, including:
the drilling results — due in late 2019
contingent Resource assessment — scheduled for early 2020
a gas production pilot later in 2020
followed by a potential farm-out to a larger partner.
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