Lilac ... your post was removed by another Mod in response to a tou ... it was a good post, so I have copied it below, sans profanity ... it took 2 reads and 10 mins to find the literary misdemeanor 8))
Here’s to a clear head and some intelligible sentences.
Well, AB came up with the Pipeliner article which got us all enthused that Lions Way was going to commence in 2012 after all, and then HS had the temerity to challenge some one on whether the pipe itself was designed for single or bidirectional flow.
That was pretty much what I wanted to query. Turned out PH seemed almost anxious to spend time with some-one who (perhaps) he could trust, who wasn’t in his face, and whose interests were aligned with his company’s.
Previous day, my day off, I’d had some good chats/laughs with Donna Tunstall, but her boss & I kept missing each other, so I prepared for the next day after work, by emailing him overnight with a few additional thoughts - background in advance.
I said he was keen. PH phoned my mobile at work, but I couldn’t take it in class, so I called back when I got home. About to make a conference call, he arranged a later slot, and before I rang off, he said, “And I want ALL your thoughts on how we might deal with these …….. people”.
When HE rang, PH had my email open, and would pick out bits to ask me further, or just run with it.
Eventually we covered;
THE PIPELINE
As I’ve replied to Dex… ‘under the previous gov’t we could have begun it NOW.' Slight query about the status under BoF – due to whether more regs to be satisfied, also how well is Anti-mob being managed, how influenced is gov’t by this.
It IS BI-directional, see reply to Dex “lwp” thread for rationale.
The pipe will ‘service’ industry & community as it traverses the route north – PH put emphasis on that, as well as it giving options into SE Qld, as well as Gladstone for LNG.
He doesn’t favour owning it, plans a competitive tender process, but...it IS on hold for now. I think there is real uncertainty within MEL about when to commence LWPL, simply because the machines, the men, the trench, the crates of pipes, the trucks, will bring the press, the Anti-mob in droves again, camera’s hanging out of choppers. Even the Tender will likely excite more negative press.
PH EXTREMELY frustrated re this, but I think anxious too, as he said some in the company say leave it 12mths, for the noise to subside. PH thinks it is better to make a start of sorts, and keep the communication flowing from the company, but is undecided how...
Now that’s a big operational concession to make for some lousy rioters who incite negativity with loose truths. I’m thinking how could shareholder anger be harnessed to unsettle this Queen Boadicea (Cerese) of Northern Rivers LTG?
SHAREPRICE
PH very unhappy at impact of these extra factors when Co so close to development. I mused how dip below 0.30 was a blow with such a resource/strategic position. He spluttered that falling below 0.40 was a blow to him. He was interested to know what I had got in at.
GOVERNMENT
Seems to have an excellent relationship with Chris Hartcher (I think we figured that), and good vibe across the board.
HOWEVER, def. misgivings re leadership. Whilst a nice man, BoF “risk averse”. Again, frustration evident, questioned out loud who else might lead. He threw a couple of names out there...but none with conviction. Wanted to say, well if we were in Qld...but couldn’t do that to the man.
PROD. LIC.
PH immediately said we have customers to sign the moment License arrives. Did not seem as if there was any impediment left to it being granted – but I believed him when he said he simply had no idea. Sensed again, Gov’t uncertainty re the environmental lobby is as much the reason behind delay as any. I think the word paralysis came up.
PH brought up ROEF, (Review of Environmental Factors), do you think I can recall what about it? Poss. the risk averse comment...
TERMINOLOGY used in Releases, Preso’s
I said that I winced every time I heard COAL Seam Gas – and its ‘filthy connotations by association’ in case there was a redneck around the corner. I asked if he had observed how WCL had toned it down, now referring to Seam Gas.
PH agreed, saying Chris H had told him to leave off the C word as 'it wasn’t making HIS job any easier'.
PH says they are now mindful of the terminology they use more than ever, and he likes to use “natural” gas when he can. (wouldn't we all...find of the Century)
PH related, with more grinding of teeth, how he can go to Lismore and meet someone for a cuppa, sit and thoroughly lay out CSG as an operation, make time to be proactive, open and approachable, and next day that person is running up the street or to the paper, shouting ‘how good am I, I’ve gotten inside Metgasco, this is what they’re up to, we can’t trust THEM etc”.
Seems people don’t want to know the truth, the long term positive benefits to pretty well EVERYONE. I think PH is putting lot of time and energy into this approach, but if he’s banging his head against an in-decisive gov’t.
At the same time PH said he was expecting more positive things from NSW Gov’t in the next week.
TRUTHLANDS
PH asked if I had seen it. He thought it was about time, and pleased to know we knew about it, hoped we could take every opportunity to keep it circulating.
Discussed Josh Fox admitting to ignoring prior knowledge that gas was historically present in the water in those areas.
Was going back to have another look at “Have Your Say” discussion.
ERM POWER
PH spoke highly of them, said they deserved their success and said if their hard work/skills were anything to go by, there was more to come – VERY ENTHUSIASTIC (made my investment over there feel very chuffed)
At some point I made a note about ‘peaking power’, but cannot remember in what context OR if in relation to ERM.
It could even have been regarding Brisbane...yes, I think it was in regard to the internals of the dual purpose pipeline.
ENVIRONMENTAL & Image ISSUES
Probably the longest part of the discussion, where he probed & listened intently.
I talked about the alliances between mining companies like Hamersley and ‘their’ town Tom Price,(in the old days B4 fly in, fly out), the present day stuff with Twiggy and community projects, MacMahons' accent on aboriginal training/employment too etc.
I acknowledged the Horse Races & other MEL community related stuff, he was glad this was known to outsiders/ shareholders. I felt MEL shouldn’t wait to be seen as good citizens for tail end rehab work, but get in early, try and anticipate the Anti Campaign Focus.
Discussed the bird supposedly inhabiting Lions Way area and susceptibility... possibility of having Wildlife officers update (train) staff/contractors in spotting & tallying, or whatever Dept. requires. (Small stuff, but a good news story)
Similarly LandCare, with their well-known and excellent logo, who have a noxious weed program, where in addition to the obvious cocky ‘scouts’, surveyors and others working in areas are encouraged to report outbreaks.
Told him of my Customs remote work, community engaged as our eyes & ears, flew Coastwatch charters and pilot told me all the lighties were recruited in monitoring Dugong numbers for WA Conservation & Wildlife.
But it was when I told him I was excited to see some of the Litterers, Energy, Waste and Recycling companies listed as “Partners” of KEEP AUSTRALIA BEAUTIFUL NSW, that PH got excited too.
because;
"Keep Australia Beautiful NSW is very experienced at delivering real benefits to all of our partners.
As well as brand extension, brand alignment, and proven media presence, Keep Australia Beautiful NSW can assist you to establish strategic relationships with key decision makers that influence your area of business.
All partnerships are tailored to the individual needs of partners and utilise the very latest innovative techniques to provide measured benefits."
http://www.kabnsw.org.au/aboutus/Partners.aspx
** HOW can MEL, with this alleged ability to ROGER the environment get a gig with Keep Aust Bewdiful NSW you ask?
Well if WRIGLEYS can, with all the littering their products bring, it’s worth MEL approaching KAB. Others who partner KAB NSW are similarly (I found) impacted by a “carbon constrained” world.
If they mirror the steps Wrigleys and others have taken to balance the perceived negatives, showing committment and a structured, tested, proven approach to dealing with the ‘issues’, I can see MEL doing it.
They HAVE to really – THEY are worried.
Lots of ideas come across his desk he said, but...(so maybe)
PH of a mind to employ environmental spokesperson in the future (qualified in the field obviously)
FLOW RATES, EQUIP & TECH DATA
PH wants to give emphasis to improving and communicating these, but seems consumed with the negative publicity, creating dilemnas around company’s forthcoming priorities.
Ordinarily would have liked to go to these earlier but we got deep into some unexpected stuff really (strategy, as you can see) and it was after 6.30 when we called it off, but were both flying, and at face value anyway PH was indicating wanting to pick up where we left off.
He is really OPEN to ideas, and sharing his. I found him a breath of fresh air, notwithstanding that my long suffering stake is under water, and I cannot say when the next breakthrough will be.
There do not seem to be any more regulatory requirements to green light MEL but they've run into an intense, repetitive campaign, where others have slipped thru before them.
PH would not be at all surprised if news came tomorrow…but no more or less surprised in further delays. SO! I am encouraged. I’ll prepare for another chat with him, but I’d like it IF I didn’t have to.
L aka 'purple petal'
Disclaimer: This summary comprises my non-professional interpretations and understanding of a broad, relaxed conversation.
It is shared amongst this forum of fellow investors and researchers in the same cooperative vein of others before me, and is not to be taken as suggesting taking particular action without seeking professional advice.
I have not increased or reduced my holdings in MEL as a result of this conversation.
MEL Price at posting:
23.5¢ Sentiment: LT Buy Disclosure: Held
(20min delay)