pretty sure Jendry was the guy who brought Mongolia to TPD?
If that is correct then his departure definitely signals the lowering of the curtain on CSG in the TPD portfolio.
Whether you agree or not, there is still a great deal of project and location risk associated with Mongolia. The biggest issue I have is the time and resources needed to fully realise its potential. I don't doubt the gas is there but it will take hundreds of wells, years of dewatering, and a lot of absent infrastructure to get it flowing in big numbers to market. I also worry about the relationship between Aus and China, especially as we are so tethered to the Americans!
I fully understand why we are sticking to Uncle Sam in Asia but geopolitics does affect business.
I'm sure the Board will realise fair value from Mongolia but don't expect trillions. It ain't easy, especially once the buyer knows you want to sell but I guess the spin-off option tells any potential suitor we have alternatives, so bid up or nick off.
My pure spec!
HC
TPD Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
