while frustrating to play the waiting game, contributes more longs into the sell que.
And as noted above, speculative positioning is absent. We have discount positioning. But there is no premium plus on the betters books imo.
If there was a high% chance say of a 3 X reserves that could prove, and follow then with 3 more blocks same, the total is more like over 10 X increase in reserves say.
how far up would speculation position for a WIN / LOSE Bet ?
What are the COS ?
If this was a horse race, and you knew that the prize was 10-1 , and further you knew that the horse was black caviar ? Would the speculative pricing be buying the entry price a lot higher, so that the entry price as like 3-10, ? 5-10 ?
Of course we need to walk before we run. And Jewel is a 3-1 prize at present. But it reveals the next 3 blocks to repeat. (but thats 3-1 on the 1 being also discounted)
How much do you pay for the Jewel bet ? (1 operator block 880 acre)
what is the total winners pool ? (4 operator blocks) 6000 acres (speculative we accumulate more pooled operator blocks) x $US 30,000 / acre ?
(less BM cut, less taxes, plus AUD/ USD conversion)
Entry fee today ? discounted 11m mc ?
What are the COS ?
Present it to a bookie.
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