I'd be happy to get out around the mid 30s with this stock due to mostly the behaviour of the WA government. Basically WGO is priced and discounted like an African gold miner and the local sovereign risk is real.
There's too much WA government interference with the price of gas and to where it can be sold (can't even sell it to the east coast Australia), hence why STX has embarked on a Urea project where the price of Urea isn't constrained and priced per free market. Some people have questioned their strategy, but basically onshore gas producers in WA will be subsidising business with cheap gas and thus makes perfect sense to setup a downstream business to take advantage of this. If more and more is found in the Perth Basin down the price of gas will go.
I don't know or many other commodities mined or sold in Australia that is not sold under free market conditions
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I'd be happy to get out around the mid 30s with this stock due...
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