What’s at stake?, page-13

Hold and watch this one with morbid fascination GeoNeo.

Horse Well is so good CHK has intrinsic value.. ie today's SP.

BUT does CHK board have the chops to negotiate, structure or execute a sensible deal? Doesn't show any skill in the exploration or PR dept. Frankly doesn't show much interest in managing full stop.

On the no hurry, metal not going anywhere blah blah arguments, well yes we can all keep waiting, accumulating, but here's some consequences:

1. will need more cash - hello dilutive raises to select few
2. will need to meet JV terms - hello drill hole or two, better be well-placed and hit something meaningful or they'll work against. We all know this one needs multiple holes & a big budget to unlock
3. don't get to play during the excitement of the exploration phase next door. BHP's FS & development phases will be a snooze.
3. and this is less likely... BHP rounds 3 & 4 drilling disappoint, and there is no deal, ever.

But hey, for now can't argue with the board's cheer squad on this....do not sell. Just live in hope board wakes up and makes use of the opportunity here.