Looks like the Alcoa contract is underpinning the JV and it's FID phase 1 and a banking facility well done WGO quietly does it.
Quote from Quarterly
Warrego’s gas sale to Alcoa will utilise almost 70% of the processing capacity of the gas plant. This production quantity is far in excess of Warrego’s 50% participating interest share and necessitated the Joint Venture putting gas balancing arrangements in place to enable Warrego to overlift significantly to meet its sales commitments to Alcoa.
The gas balancing arrangements will also enable Warrego’s joint venture partner to overlift in the short period prior to Warrego’s foundation GSA commencing in January 2024.
The Joint Venture is also continuing to pursue smaller gas sale opportunities for the residual volumes available for the Phase 1 development.
WGO Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
