Anyone looking for CGT relief should almost be exhausted by now.
I used CGT relief to take out Capital invested plus 30% and hold rest. I'm sure a number of people would have been readjusting.
The choice is to buy at 75c or stay if you came in at 21c. 40c etc.
Unless they suddenly start to drill dry holes,the volume increase in fairway drilling will increase production.
Moving more quickly to higher, more productive zones will also increase production.
High impact drilling increases cost and might increase production. Given it is 3D based and the experience of the team picking targets I can't see them not getting at least 1 in next 50 holes.
So what is the production level that you need at $90 (discount to average price) to cover first 50 high impacts?
If we start getting above that number, the JV delivers and we increase reserves (probable) this will be more valuable than today's price IMO.
Happy to hold.
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