Hey wot,
Yes I agree it's undervalued but it sat at 8 cents for 6 months. In essence the FOMO would come around Mar / April imo.
The other catalyst is ideally I cannot see Bru not wanting to advance yulleroo this year because Sheffield may be 18 months from full operation so there may be some action there primarily because there is work to get a pipeline built to Sheffield and also work on appraisal / production wells, the pitch imo is to say they will power derby, Broome, Wyndham etcetera but it's really to prepare in advance of the huge power requirements Sheffield is going to require.
To my mind Buru has potential to get approval for a NAÏF loan and to build their own Solar / Gas hybrid there has been loans already in that space. So I'm just presenting the possibility that is what is on Eric's mind.
100% of 700bcf of gas is a hell of a lot better than 50%.
Yulleroo is very valuable if it can be commercialised I believe there is a plan to commercialise it and there was a reason it was kept off the table with Origin.
CEO First right of refusal seems to indicate it would be tendered on an open market regardless and Origin would have a chance to match the winning bidder if they so desired is my take on it.
Anyway I'm waiting on NAÏF changes for a prawn farm I'm invested in to start construction I have a feeling Buru's plan regarding solar/gas at yulleroo would also fall in a speculative category where they may need a bank guarantee or even equity from NAÏF to get a loan approved.
My understanding the NAÏF recommendations / changes are to go through parliament early this year then maybe it's game on for yulleroo.
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