Member Info for Mitriti

Exactly Blakie. It’s crystal clear really... You almost have to admire the persistence of the doomsday brigade here 😅

If the lenders wanted the asset they had plenty of opportunity before the settlement and farm-out completed. Instead they supported the process. That usually tells you a restructure is the preferred outcome.

Lenders usually want their money back, not to run gas projects in Indonesia...

We'll know soon enough!

People worrying about the CLN forget one thing… the lender also wants their money back. Killing the company makes no sense when the project is finally moving forward. A restructure that lets Mako progress is in everyone’s interest. That’s why the market is watching the CLN update next. The rest follows after that.

People waiting for 0.05 are now explaining why 0.10 is expensive🙈😅

Thanks Blakie! the RNS helps mate 😁

Indeed MrH_m, there’s still quite a bit to come... First the CLN and funding clarity, then the Indonesian approvals, followed by the gas sales agreements and contracts. And ultimately FID.

This feels like the first real step in the rerate. Step by step. 👍

No hangover today, got the flu instead 😅… but never felt better, Blakie haha.

He'll be waiting for the dinosaurs to resurrect if he's still hoping for 0.05 😅 The tape doesn’t lie... A half-decent RNS and 0.08 gets smashed.

You’re absolutely right! filtered the noise. Patience wins ;)

Blue...unless you have a crystal ball and expect sudden bad news out of nowhere, betting on a return to 0.05 makes little sense. Likewise, fundraising scaremongering at this stage makes no sense at all. No rational management team would shoot itself in the foot, especially just after materially de-risking the whole damn thing...unless they possess a one-cell brain...

Raising funds before FID would be a strategic mistake, as it would signal unresolved funding risk and dilute at the wrong valuation. After FID, funding becomes far more credible and is typically well absorbed b y the market, sometimes even seen as a healthy step.

Agreed Blakie. The key is lenders staying supportive and the restructuring being sensible and non-dilutive. That should become much clearer as we get closer to approvals and FID.

Like MrH_m has said a few times already... definitely one for the bottom drawer. I’m adding at these levels whenever I can from here. My base-case view is approvals around March/April, followed by FID in June/July, with a clear re-rating at each milestone as uncertainty continues to fall. Approval should move this from a “story” into something the market can properly model, while FID largely removes the remaining execution risk. Beyond that, first gas is where the real value unlocks, so I’m planning to hold the bulk well into next year and potentially through to production. Still looks deeply undervalued to me and I’m actually very comfortable with the wait at this stage.

Loool😂

You’re confusing delays with risk. Mako is a discovered gas field, not a pipe dream. Survival was the risk and the settlement addressed that. Timing may move, the asset doesn’t disappear.

Enjoy your piña colada 🍹

I suspect some people positioned into the conference hoping for positive news and when nothing new came out, they got out again

Cheers Blakie, appreciate the confirmation 👍Let’s hope we get an update soon then mate 🤞

Did Conrad present today at the Bell Potter conference, and does anyone know what was discussed? Often these presentations are followed by a formal RNS so hopefully we’ll see an update from Conrad soon and possibly EME as well. 🤞

0.3p would really just be the minimum for me to top-slice a little... I think this goes much higher from there.

I don’t see 0.15p as an exit at all. That was simply the pre-reset level, reached when debt and cash flows were unresolved. Getting back there just means the market has normalised. The real re-rating comes once approvals and CLN clarity are confirmed, when EME becomes a modelled asset again. That’s when serious money shows up, not before. So 0.15p looks more like a starting point than a ceiling.

Just relax and enjoy your tea, the leaves are fine 👌🙂