If you like the ORRI on #6,
then surely we like the CTL project potential on all other Latrobe tenements containing the JORC resource.
What we need is the IP to be registered and signed off, an agreement to use it with the University of Texas, and most importantly a CREDIBLE JV partner and a DESCENT contractual agreement to deleop this CTL project.
We need something like $40-50m to kick this off, and GPP could give away even 75% and still have a residual value of $15-20m which in the scheme of GPPs negative enterprise value makes it look an absolute bargain.
Can this board pull off an agreement remains to be seen, and hope they are not backed into a corner like EP447 where they get on the back foot in negotiations because of tenement spend requirements and retention issues.
Possibly, we have company maker #2. This board are just way too slow to develop opportunities. CSG in NSW is one example of a booming industry where they managed to lose money selling out to COI.
There is a growing interest/ groundswell and govt support for developing brown coal resources with alternative tech in VIC.
AEC have until next week (Tues) to confirm the sale of EL4877.
It's worth around 75-80% the Market Cap of GPP with the bonus of an ORRI.
Lets hope they are still listing.
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