GNX - Genex Power

[turnip]

I invested in Genex after being forced out of Tilt, and now it is happening again. Won't sell willingly..

[silu]

I wouldn't have thought that my biggest ever intraday increase in my portfolio will leave me feeling a bit hollow but here we are. I hope if a takeover eventuates it's closer to 40c than the pathetic 23c offered. As I said I hope the BOD doesn't fart around and rejects it quickly.

[Carpenterjoe]

Well said.

Hopefully this offer falls apart and leads to a share price pump into a small capital raise for a project.

Well done silu for your timing. I was days away from chucking another 30k into it.

[Joshuatree]

Well said.

Hopefully this offer falls apart and leads to a share price pump into a small capital raise for a project.

Well done silu for your timing. I was days away from chucking another 30k into it.

It's just the opening bid imo ,start low and others will come in too,the ESG Greenrush is on.

[Carpenterjoe]

Yip, I'll be holding until the end.

[silu]

Good to see that Genex is getting a lot of news coverage at the moment. From being unloved and undervalued to a green gem in the making. I can only assume but I would be surprised if there wouldn't be more potential suiters having a good look at Genex right now. Also J-Power as a major shareholder has hardly gotten any returns on their investment yet.

[silu]

The AFR reports that management has rejected Skip's over of 23c. Good. What we also see now is extensive coverage and people are wondering why a 70% premium takeover offer of a small cap isn't looked at. Which again states the bleeding obvious - we have been undervalued for ages.

[silu]

GNX in another trading halt as the AFR reports an updated takeover bid by Skip Capital but this time binding on the fact that the Board recommends it. Probably still way below my own valuations especially with cashflows flowing from 2025/2026 onwards from Kidston Pumped Hydro. I was hoping to be in this for a long time. Now it seems that it is getting taken over before we can reap the benefits.

[NZSilver]

Yep it's the usual story Silu, unfortunately the market has never taken much notice of genex, probably too much of a long term investment or to boring... Price has been stuck in a trading range for years even though there has been good progression on the projects. I suspect the company is a bit too small for a big infrastructure investment company to be interested (for example infratil). These guys have seen the value and the thematic of green energy, Im predicting they will probably take it away from us for a sub 30c valuation and be laughing in a few years time when kidston is complete.

[turnip]

I don't want the GNX takeover to go ahead, but if it does I still want to keep an investment in Australian renewables, although there doesn't seem to be much else available on the ASX.

I have DEL on my watchlist, and that might be where a portion of my GNX funds would go, but I think it is a fair bit higher on the risk scale than GNX. MPR I have looked at but it seems more like a gamble than an investment at this stage.