Li was going allright for them as the price is lots better per ton then what it was a few years ago. It's Red Gully that they picked up from EGO that didn't flow any gas & so MIN were considering their options about that asset.
As for Mitsui, this should b a good fit to their existing portfolio in Oz & suits their modus operandii in my view.
The only time they got themselves in a tight spot was with Nexus at 'Crux' which hasn't been developed yet.
Most of their other projects I know off have been good, including the NW Shelf MIMI JV with Mitsubishi, 40% acq of Enfield in 2004 from WPL, activities at Tui oilfield, JV with Westside in Moura coal seam gasfield, Kipper acq & other VIC ops.
AWE Price at posting:
97.0¢ Sentiment: None Disclosure: Held
