QLD is sooo yesterday. Anyway, money has already been provisioned. People who speculate that they will buy MPO's assets obviously haven't looked at the presso. Most of the cash will be spent within 12 months on acceleration. I just hope they are able to raise at a higher price when they tap the market again next year...
This cash raising is occurring at the worst time. I just wish they allowed for oversubsciption as i doubt the composite guys and some apollo holders will take it up.
Ah well, i'm sticking with this one because their strategy is well suited for their size. Gas-pipe/wire has relatively low and "modular" capex compared to gas-lng and margins in Europe are comparable to Qld lng. Better strategy than most oz csg players with LNG dreams. I believe most of the small/mid oz csg players are just hoping/waiting for a takeover. All they'll do is prove reserves until then. ESG raised $100m recently but all that money goes to buying land and studies. I'd rather go with DTE strat, at least they know their place.
To the bottom of the drawer you go.
DTE Price at posting:
84.0¢ Sentiment: LT Buy Disclosure: Held
