I fully respect I’m in the minority when it comes to being content and pleased with the company’s progress to date.
As I’ve said before I’m invested with a long view to see the company realise its value and of course we are not at that point yet, but I have no reasons to doubt that we will get there.
1.Mongolian CBM- pioneers that have made the journey where no one has been before. Learnings have been made and the path has been extended to understand how to make the process better and ultimately achieve the goal of commerciality. Our peers are tracking now in the same way.
I liken it to an apprenticeship, you don’t get your ticket to success without doing the mundane, rinse and repeat tasks until you gain the experience.
2.Grandis to date is far better than anyone including our experts believed was likely. Therefore given the concerted efforts by our much more experienced and powerful peers in the trough one has to extrapolate that we are a very strong prospect of success and in a good timeline.
The market sees us as irrelevant for a few reasons.. Gas(not cool)… Uncharted plays ( 1st in Mongolia, Grandis is unconventional)..,Liquidity (now comfortable) however the reality is that sp in our macro environment will not match the value of the companies potential until the potential is on the verge of reality.
So when will this occur?
My view for 2024 (and again I understand I’m in the minority) is that the company will continue to progress and move in a forward direction to prove up the commerciality of both Grandis and Mongolia and it may well mean that the general market still doesn’t reflect the underlying values throughout the majority of this year, however at some point the progress will see the big companies who do see the values will come and make a move.
Partners(eventual owners)will be required and will likely as Neil has indicated get involved during 2024.
This is what I’m keen for and I am fully aware and am comfortable that it may even take longer to get a significant result as I believe we are not going to rush this process for a quicker outcome.
I’m pleased with the first announcement to kick off 2024 especially the possibility of a correlation with Dunk 1 (26klms away).
Further analysis will determine if there is any upside there.
All in all I will continue to have patience and allow Neil and the team to keep working on our projects and ultimately I see that the value will come.
Cheers Peter
(20min delay)