They are getting paid $30m to take on a producing asset with all infrastructure in place. Not only that it sources energy from coal mines and hence cleans up the environment at the same time. The sunk costs on infrastructure alone are greater than $1bn
The Reserves of the project are higher than that of Warrengo Energy which got taken over for $430m, which didn't have infrastructure and wasn't in production. This is already producing and selling gas to incitec pivot already!
Truly a transformational acquisition.
QPM Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
