I agree with Superpaddy. The beauty of our modern capital markets is that you can slice and dice your own portfolio of risk exposure, however you want, and at minimal transaction cost. Put all your O&G allocation into one diversified major if you want, and enjoy the blended return from their management’s judgement. Or, back yourself and curate your own selection of projects you like that you feel are undervalued from the many single-asset juniors available out there.
FWIW, here’s why I hold TMK:
- absurdly cheap relative to others with similar levels of project derisking - management are transparent and sticking to their knitting (as others have commented), emphasising execution over story-telling - tenement is large and varied enough to offer other opportunities, should current pilot prove uneconomic - plenty of work still to do on the offtake strategy, but being situated a stone’s throw (50 km up the road?) from a border port into the world’s largest energy importer strikes me as a good start.
TMK Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
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