Strike deal was with Wes not Orica. if I compare Tor to say Suart Nicholas. - Tor is much more honest and delivers significantly less hyperbole. As for the asset and development , I think we all agree it’s a massive asset most likely to be developed by someone much bigger , but it’s not impossible to see a north development using cash flows of central hub. I think about 80% or company success in resources, is having the right asset at the right time. Mahalo was owned up until 3 years ago , by 3 companies - two of whom are gorillas and it as an asset for them was very small . You really can’t blame comet for lack of progress as it’s impossible to move forward without the other 2. I don’t see a lot of credit given to Tor for acquiring more of the asset at a great time . Not only did it add significant value but it has streamed line development and made Comet a lot more attractive as a target and /or as a future producer .
I have recently recently had a chat with someone very familiar with the data room process and if you guys understood who and what is involved.you would be a lot more positive
many times in the resource space and asset has an implied value based on a SP , until someone bids for the asset or takes a share at true value - it’s been happening with coal recently
the vic spot gas prices is approaching 20 without coal plant interruption - if this doesn’t tell you how much east coast is short gas I am not sure what will. I have no doubt there is many portfolio gas companies as well as industrial users that are running the ruler over comet as we speak and I am also sure they are keeping an eye on the absolute lack of spot supply
COI Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
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