EXR Trading 2023, page-1497

Personally I'd like a Grandis exit sooner rather than later- it fits my strategic purposes, and if I walk for a while in Neils shoes, maybe it suits his purposes as well.

He has 38million shares + 4 mill or so in a joint super holding- maybe even a few million more via performance grants all of us have already voted on and approved.
Imagine him getting the offer for Grandis and working out an appropriate shareholder capital return dividend and then sitting down with the calculator and seeing $20,000,000 staring back at him?....imagine the thoughts running through his head????

Financial comfort for him and his. Risk taken, reward received (with LOTS more still to play for). Freedom to really pursue his ambitions.

I guess the trick is to balance an early exit at best possible value (realising of course that the asset purchaser carries the risk of further development) vs as @PeterAitken s' idea yesterday to potentially fully develop Grandis to see true asset value realisation and benefitting from a nice cash flow stream?....don't think we do, but it could well be an option.

So.....Instant or delayed gratification?......mmmm....methinks more the former than the later, given the scenarios I've predicted above- sure, we may leave some asset value unrealised and monies on the table but we need $$$$ to really pursue Mongolian CBM and Gobi H2 (and potentially other plays) and non-dilutionary organic self funding these would play to Neils long held view of 100% asset ownership giving best potential optionality going forward.

And maybe you're right- maybe it's Shell....maybe even a TriStar/Flannery led consortium (expanding their presence in Taroom, given their OMA interests). Can't see a Japanese or Korean entity buying us outright, so for me it's really Santos (just IMO).

Anyway- all hypothesis.....more time and patience and luck needed, as always!