It is quite astonishing that the market is not recognising any of the exploration assets. Bivouac Peak has an element of risk, but SM74 is about as defined as you can get. I would be very surprised if we don't have at least one well awaiting completion by mid January - and with that, future cashflow.
Very upbeat language in the presentation - well worth a read as it is the first time they have defined the size of prospects in the Cooper acreage. Also, the first time that talk of farmouts of Cooper acreage has been mentioned - and with a timeframe starting shortly.
Potential is a dirty word, but there hasn't been this volume of potential catalysts in a very, very long time.
Hopefully the little bites that we saw today keep occurring.
MEL Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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