I have been following NWE, primarily as an AWE shareholder but...

I have been following NWE, primarily as an AWE shareholder but also have been considering taking a stake. Am very interested in what path the company will take in the immediate future? A company with a couple of $m in the bank cannot do a lot in its own right. The big questions are:

1) How much of its equity positions will NWE need to farmdown to keep going?

2) How much equity will NWE dilute if it issues shares (I think that the last CR was at $0.05)?

3) What level of debt can the company access in the financial markets or can they seek a partner to provide equity and some finance? There have been inferences here that the partners in A2 will free carry NWE-that is mad talk!

4) AWE has made prior claims that its Perth Basin assets can be commercialised rapidly due to existing infrastructure. These comments were made 2-3 years ago so we can say that progress has been slow. If NWE and its partners can provide a clear picture of the path to commercialisation the share price value will become evident quickly for all partners.

5) The Perth Basin assets of AWE are valued at $30m in various analyst valuations. I have no idea why the value is so low but there must be a reason for that?

The road that NWE will take and the commercial acumen of the team to maximise value are critical even if the A2 resource proves to be huge.