Overjoyed!!!18 Sep 2024 21:27
Malcy seems very happy with Jadestone, he must be reading the same vibes as me, lol
Jadestone shares have been weak today, down 10% as I write as the market I suspect has been panicked by the news that the Akatara gas field has come off-stream after a mechanical failure needing repair. However, talking to CEO Paul Blakeley I think that the problem really is only a commissioning issue which is not unusual and whilst it may take a little sorting out will be over soon and Akatara back onstream at full pace.
But it is worth looking at the PSC model and how it affects Jadestone, with accelerated recovery of costs the structure delivers swift payback and higher cash flows and despite these technical problems Akatara is a gem, to be enjoyed for a long time to come.
With Montara now really delivering the goods, the SFA Cluster offshore Malaysia recognising the fine work with Petronas and is gaining economic scale and therefore value and the CWLH increased stake there is much to like about Jadestone.
The diversification is paying off, seven producing assets ‘chasing value’ and the company moving to a period of production, net cash and increasing revenue this really is the time, time to back Paul Blakeley and his team.
Wont surprise me to see JSE back at the Top of Malcy,s "Top Picks" for 2025
Great time to be building on my position, imo of course, DYOR