I realise their other projects are different to Tassie Shoals but Nexus is providing us MEO holders a great opportunity to look into the future for our share price come the end of september imo.
I want to give kudos to one of Ya's post which gives a great fundamental analysis of farming out on the NXS thread assuming his figures are correct. You can search this specific post: Post #: 4368610
or go to http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=961646#4369301
It explains how farming out really gets you cashed up for drilling leaving only logistics to hold you back.
Nexus has gone up nearly 30 percent in the last two trading sessions cumulatively, due to speculation they are nearing farming out some of their 85 percent ownership of their Crux field.
Now crux has a potential TCF of 5.1, or far less than Artemis, but investors are clearly seeing the upside potential to securing funding and a large partner to get the project closer to completion with regards to capex ect.
So I look forward to the end of September as I think that will truly be go-time for the MEO shareprice, and recommend my fellow MEO holders to follow Nexus over the next few days/weeks to get a clear picture of what a share price can do, as speculation builds over securing a farm-in partner to do all the heavy lifting in your project capex and hence make it a reality as opposed to a plan.
P.S: As for the short term, DOW closed down on fri night. Traditionally MEO has it's best out-performing days when the DOW/broader market is falling. Here's to hoping tommoro's a traditional day for MEO! ;-)
MEO Price at posting:
53.5¢ Sentiment: LT Buy Disclosure: Held
