Gday Lilac,
Yes, some time ago (6-12m?) I migrated some out of ESG into MEL based on prospective upside. MEL carries more risk imo, but is also substantially undervalued. Just a reweighting for the kind of exposure that I was seeking.
Yes, I most definitely participated in the SPP. I think I indicated last week that I would even if the market price was below that of the offer price. I am investing in MEL and I think the recent malaise on the stocks is overcooked - I want to give my interest in the company, every chance of an upside - which I believe is there. Not a trader sorry.
The LNG/CNPC deal is all very interesting. OSMR has one of the lowest reported carbon intensities of the liquesfication technologies out there. That is also a substantial advantage moving into the next decade.
Anthony,
I agree, there should be more to come from Harrier and this result from just the start of the pilot is substantial considering the CP11 results.
The rise in East Coast gas prices and the Carbon tax is the kicker for MEL. Thats what likely to deliver substantial improvement in value for the program.
Cheers,
SF
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