Got burned by all the hype and promises for Jaws, hence skeptical about the same hype and spin being pushed by STX management again for their PB assets even though the prospect of commerciality for WE is more real this time.
In my opinion the market value for STX has been pushed up too far factoring in a lot of the upside yet to be realized. The value comparison to WGO is an obvious indicator for that unless you subscribe some $300 million in enterprise value to STX's exploration portfolio and potential commercialization concepts for Haber and geothermal. Getting these funded without blowing out STX's capital structure will be a huge undertaking.
Awaiting a definitive answer to the WE GWC issue and more consistent flow results from these lower porosity Kingia sands before re-investing. Agree that STX management is very driven and energetic.
Why did you invest in STX, page-5
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