there is clearly some emotional capital talking here, so i can...

there is clearly some emotional capital talking here, so i can understand some negativity.

have to be careful what i say here, but I'm really damn sick of downramping comments - that add nothing to the debate.I have a few on ignore, but still my finite time on this planet gets taken up by such nonsense.

Reality - is a GSA better than a MOU?

Yes - if we get the gas, they are hooked.

Would the Chinese bother to move from MOU to GSA if they didn't think:
(a) We had potential to get the gas, from drilling or otherwise ; OR
(b) This is a cheaper way of staying close with an option to make a land grab (read takeover) down the track, as things progress.

I don't rate some of the management, in fact recent voting suggest the same - I know at leats 2 insto shareholders that bailed on RJ NOT going.
Some small changes have improved this capability.
Further change is needed if we are to get the gas ourselves.

However, at 20C I do believe the upside risk FAR outweighs the downside.

Its that simple, does an entry of 20c provide a good risk return equation?

I COULD do a theoretical valuation here, but, we aint got all the gas PROVEN, YET.

Time will tell.

Its sure worth north of 20C in my humble.