MM game changer was the AGMP, which failed to eventuate given the poor PV13 results. Then Dukas was the next cab off the rank with Peak Helium JV, however this was another failure, albeit somewhat outside of their control. The only common theme over the past 4 years since MM became chair was to pay down debt, and endless "ongoing discussions" with JV partners.
Agree the next 12 months will be critical for the leadership team. The JV has earmarked drilling in both Mereenie and PV to increase GSA volumes and run both fields closer to full capacity. IMO success on these will be a precursor for drilling Mt Kitty and potentially Dukas. Hopefully they can find a chair with good credentials in O&G exploration.
South Australia's announcement last month on their Firm Energy Reliability Mechanism, aimed at underwriting a minimum of eight hours energy supply via batteries or gas fired capacity, is another enticement for the JV to drill and revisit the AGMP.
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