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  1. #21
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    Trading Halt for a material capital raise. Must be for the Pumped Hydro project?

  2. #22
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    To reach financial close on Kidston Solar Project Phase One 50MW (KSP1)
    • To continue the development of the Kidston 250MW Pumped Storage Hydro Project (“KPSHP”)
    • To advance the development of the Kidston Phase Two Solar Project (“KSP2”)
    • To provide general working capital"

  3. #23
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    Gawd I'm miffed about this capital raising. Timing, pricing. How on earth did they do another one at a much bigger discount than the one just done in December? I would have expected one capital raise for each stage of their 3 projects.
    Last edited by silu; 01-02-2017 at 02:37 PM.

  4. #24
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    Don't get me wrong - over the long run I'm sure us holders will be richly rewarded - but it is a really bad look for those who bought this on IPO and/or have participated in December's raise.

  5. #25
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    Reply from Simon Kidston about my e-mail:
    I understand, the timing and pricing is regrettable. The background is we pushed very hard to finalise the key contracts and lending documents prior to Christmas , but unfortunately we were not able to finalise them until very recently. In the meantime, the bond rate / interest rates have increased sharply . By way of example, in early December, the rate to hedge our debt for 10 years was 4.1%. Today the same 10 year hedge is 4.7%. The impact is less project debt which means more equity. We aim for Financial Close (the time we draw on the debt and hedge the rates) late next week . However, on a positive note, work has commenced on site and so there is no delay to our construction timetable

    regards

    Simon Kidston | Executive Director

  6. #26
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    $5 mill to Instos and $3 mill offered to shareholders @ 16c. As Dej says a 55% discount over 2 months. SPP in Dec was at 27c and s/p dropped to 22c. Still watching from the side atp but i guess the s/p may well drop close to 16c.Dilution plus.

  7. #27
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    Hi Silu and others,

    I've had GNX on my watchlist for a while now and followed this thread from time to time. I'm finally having a good look at the company. I would be interested in your numbers, in particular the $100 Million debt, how do they plan to pay this off? do you know the interest charges? do you have details about the lending - I cant find much.

    According to my conservative calculations revenue from solar will be between 10-12 million/year, with Op expenses of 2.3 million/year, however there will be around 3-4 million of other expenses as the continue to work on the hydro/ second solar (before CAPEX)

    Thanks
    Matt

  8. #28
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    Of interest, here is where I got some numbers from http://reneweconomy.com.au/large-sca...stralia-54829/

  9. #29
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    Hi NZSilver,
    Sorry only got limited time today. Have you had a chance to read the Cannacord Research http://www.genexpower.com.au/uploads...-_nov_2016.pdf
    Lots of your questions are answered in their notes.

  10. #30
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    Thanks Silu, that was useful. Also one of my questions was where they would find water to re-fill their reservoir - I read through prospectus and it was interesting to read the dam that has a gravity feed line and the water rights. It would be interesting to have a bit more detail why they went for the 250MW capacity vs greater.

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