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Comet Ridge Ltd ( (AU:COI) ) just unveiled an update.
Comet Ridge Limited has made significant strides in its Mahalo Gas Hub projects, with the approval of the Front End Engineering Design (FEED) for critical infrastructure, positioning the joint venture for a final investment decision. The Mahalo Gas Hub pipeline’s connection and pilot drilling activities have progressed, supported by government grants, enhancing its readiness for gas production and transport. The company also remains engaged in ongoing environmental assessments and commercial discussions to expand its market presence and secure project funding, backed by a strong cash position of $19.3 million.
More about Comet Ridge Ltd
Comet Ridge Limited is a company involved in the energy sector, focusing on the exploration and development of gas resources. The company participates in significant gas projects in the Mahalo Gas Hub area, situated in Queensland, Australia, aiming to supply both domestic and LNG markets. They hold a majority stake in the Mahalo Joint Venture Gas Project alongside Santos QNT Pty Ltd.
YTD Price Performance: -3.57%
Average Trading Volume: 911,091
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$167.5M
For detailed information about COI stock, go to TipRanks’ Stock Analysis page.
