I remember DC saying at the agm that the best time to raise capital was when you don't need it , therefore doing it in a way that you can control and not being at the mercy of the market. So , it makes me think that they are very confident that this will be a successful cap raising. Still think it's a pretty good effort to raise $100mil in this climate given the recent market malaise.
The clever bit I think is that whether the company gets taken over or not , the money raised is going to contribute to the development of the assets anyway. Given the total amount of gas in NSW and the fact that someone has a suitable site , I think a NLNG plant in a cooperative form is still a possibility. Probably would need a bit of state govt assistance though and that might be a roadblock for them.
I notice in the presentation they mention multiple gas fired power station opportunities ( not sure if this new ) and now on slide 15 , the QLD options are drawn in. I don't think they can make their intentions any clearer than that can they ?
ESG Price at posting:
91.5¢ Sentiment: Hold Disclosure: Held
