another top mcgoldrick execution !, page-5

Good post Gecko.

Cuadrilla had the funds to do their drill & frack which put them in a very strong negotiating position.

IIRC they spent about 100m in exploration and got some "earth shattering" results :)

It's only to be expected that a smaller company further back in the exploration process will have to take less, but it's all relative.

The Cuadrilla transaction implies a project value of about 900m AUD.

If this JV funding can get DTE/GDFS project to half-2/3rds that valuation and then a further farm-in for 25% at a much higher valuation, it will still leave DTE with approximately 50% of the project.


There is certainly enough in the pipeline to justify an SP in the +40c range, it's just a matter of the market waking up to the dawning reality that Dart has actually been doing what is has promised for a while now.

The sun has broken through.