Incitec Pivot want every molecule CTP can send down NGP so other contracted gas currently travelling from Moomba to Phosphate Hill can be redirected to Gibson Island to prevent its closure. They are a very motivated customer with long-term large volume needs.
The prime Qld gas acreage and $20m for drilling cast at CTP's feet is evidence of the urgency and seriousness of both IPL and the Qld government. (I don't see this gift reflected in the CTP share price yet)
Of course CTP holders desire certainty that can be capitalised. The GSA will come soon enough. Do not be surprised if RC makes more bold moves in this area.
Ash
I have IPL too.
CTP Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
