GNX - Genex Power

[silu]

Hopefully it comes through in 2020 for you silu
Kidston Pumped Storage Hydro - Project Update 2 pages 141.4KB

1. As part of its final approval processes, which were targeting a final investment decision in CY 2019, EA has today advised Genex that it will not be in a position to reach a positive investment decision on the basis of the long term energy agreement structure as outlined in the Term Sheet. In light of this development, Genex wishes to advise that it no longer anticipates that it will reach financial close on the Project in CY 2019.

I better hope so. I'm BIG into this coy. I honestly feel quite ill right now.

[Elles]

How big of an issue is it? Just a delay or chance it gets canned?

[silu]

Currently trading at 19c which is way better than the drop to 14c on Friday. At current MC of 75m it trades at fair value for KS1 and JS1 imo.

[silu]

There's some weight off my shoulders
NAIF Board Approves Extension of Kidston Hydro Funding Offer
https://stocknessmonster.com/announc...asx-2A1186169/

[Filthy]

There's some weight off my shoulders
NAIF Board Approves Extension of Kidston Hydro Funding Offer
https://stocknessmonster.com/announc...asx-2A1186169/

have been following this one for the last 12 months.
thanks very much for all of your contributions & commentary silu (which I have always enjoyed).
finally took a punt and dipped my toes in this morning @18.5
now to stick them in the bottom draw!
hopefully this is just a small blip - great ultra long term hold imo

[silu]

have been following this one for the last 12 months.
thanks very much for all of your contributions & commentary silu (which I have always enjoyed).
finally took a punt and dipped my toes in this morning @18.5
now to stick them in the bottom draw!
hopefully this is just a small blip - great ultra long term hold imo

Thank you Filthy. Glad to hear that some people read my posts. Although my confidence got a little knocked down with the announcement 2 weeks ago I still have faith that this project will go ahead. My plan with Genex still is to hold and perhaps buy more along the way and then reap the rewards when it becomes a dividend payer in my (hopefully) early retirement.

[Joshuatree]

Im in today too. Need more Green stocks and this is an opportunity for me. DYOR not a recco.

[duncan22]

I topped up today at 18.5. Surprised to see it drop on close. I did see a 1 million share icebergs sell order at 18c so someone big wanting out.

[Filthy]

https://www.theaustralian.com.au/new...de6242c4c79c5b

[silu]

First interview with Simon since that announcement https://youtu.be/sdMRIHZ-2m4

He talks about slight tweaks to the Initial agreement with Energy Australia (I believe Genex wanted a multi-decade off-take agreement while EA only wanted 10 years). He is adamant that it will start construction last year.