Hey guys Did you see this article from Wednesday’s AFR? Very bullish for Comet Ridge.
Spot price for east coast domestic gas is at $19 / gj, higher than the net back prices that produces could get by exporting their gas offshore. No benefit to end users and we are now considered a risky place for international instos to invest. There’s sovereign risk now in Australia - shambles!
Anyway, all this commotion increases COI’s asset value given the proximity to pipeline infrastructure, the low CO2 figures for its gas and it’s already proven gas resource.
Once we see pen put to paper with CleanCo, I think this is going to move hard, to high teens SP range quickly.
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COI Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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