Moranbah and earning enough revenue are connected. Moranbah/TPS were to do exactly that. But it hasn't, and it isn't exactly clear why. Simple answer appears to be not enough gas. If you go back to the original forecasts at acquisition, TPS isn't doing the numbers expected, Q4FY24 was supposed to be cashflow positive, final result will probably be around $15M lower than forecast. Either TPS long term won't meet their revenue expectations, or they still don't have enough gas, which constrains revenue. Time will tell.
QPM Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
