(Note for those with access: Stuart didn't "toss in the towel")
Slugcatcher: Gina and Sam Act 2. The Perth Basin
"While the rest of Australia struggles to manage a man-made shortage of gas, Slugcatcher can see WA heading towards a glut, and a remarkable revival of a relationship which has already created billions of dollars in iron ore wealth.
The twin keys to what's happening is a process of unlocking the potential of Perth Basin gas deposits with Gina Rinehart driving one side of a potential transaction and Sam Walsh on the other side.
Rinehart is the owner of Hancock Energy which teamed up with Korea's Posco to buy Senex Energy two years ago and later stamped its logo on the gas-rich region north of Perth through two corporate deals, first through the takeover of Warrego Energy and last year through the acquisition of the gas assets of Mineral Resources. Next target is Strike Energy.
...Rinehart's plans for the Perth Basin are likely to be the newsmaker in the first half of this year as she applies the grit, for which she is famous, and the cash, of which she has oodles, and uses the contacts, of which she has plenty, to make things happen.
The stars, as they say, are aligning – and never forget that the biggest stars in our solar system are gas giants."
STX Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)