ESG is not strongly correlated with the indices in the short term. So whilst a correction is not going to be good for the share price, ESG is a share that 'marches to the beat of its own drum'.
My bet is still that the SPP will be full subscribed.
And if the price happens to fall under 85 cents, then investors get TWO opportunities to buy at these 'never to be repeated prices'.
ESG's price is underwritten by its huge intrinsic value, as is HGO's. It is underwritten by the Santos purchase which was at $1.00 plus contingent liability. And it is underwritten by the fact that it is a world-class and strategically valuable resource, both in terms of size, geography and macro energy trends.
Who ever knows what 'the herd' will do in the short term?
But history will judge that buying ESG below 90 cents will be one of the great investing opportunities you will have.
Take it, whilst others become fearful.
Y
ESG Price at posting:
86.5¢ Sentiment: Buy Disclosure: Held
