But why did you 'bump' this post of mine from 2009 to the present?
Yes, I still agree with what I said back then. The job of a explorer/developer is to explore and test, grow reserves, get approvals, keep their optionality and corporate appeal high, and then kick the project upstairs to those who have the capital, the expertise, the political clout, and the markets to develop it fully. That is the game for all small-medium resource companies. Most dream of selling to BHP, not of being BHP! :)
And I still agree with those sentiments.
Big resources should get together with big capital. Successful companies go up the foodchain. The very successful at the higher prices.
The only contentious question now is the price! How much of that value gets captured by the owners of the smaller developer, and how much gets captured by the larger buyer.
Not IF ESG should go up the foodchain, but at WHAT PRICE, and TO WHOM?
But not to Santos at less than $800m worth of their scrip. No.
Yaq
ESG Price at posting:
79.0¢ Sentiment: Hold Disclosure: Held
