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  1. #76
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    will you be in 2019 comp silu? close 2 days
    Be aware of wizards, for they are subtle and quick to anger.
    that not forbidden is manditory.

  2. #77
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    Quote Originally Posted by wizAlvin View Post
    will you be in 2019 comp silu? close 2 days
    Thanks for reminding me. Just quickly put in my 5 picks but didn't have time to read up if there's an entry fee. Apologies but I'll check later unless someone kind links direct to the post with the account number.

  3. #78
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    ASZ 2019 competition closing in few hours
    Be aware of wizards, for they are subtle and quick to anger.
    that not forbidden is manditory.

  4. #79
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    Slow but steady progress. Still very upbeat about its prospects.
    Here their latest presentation: https://www.genexpower.com.au/upload..._june_2019.pdf

    Also the AFR reports that Japanese-headquartered J Power is set to buy up to a 19.99 per cent stake in Genex Energy, and will pay a significant premium for the privilege. The deal will be announced as early as Thursday.

    Onwards and upwards. This is a legacy investment for me.

  5. #80
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    I love the market's reaction to the news. Up 18.4% at the moment. If I wouldn't already be totally overweight on GNX shares I would have topped up some more today.

  6. #81
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    Quote Originally Posted by silu View Post
    I love the market's reaction to the news. Up 18.4% at the moment. If I wouldn't already be totally overweight on GNX shares I would have topped up some more today.
    Yip, it will be an interesting few years, funding is a must and once secured things could/will fire. So far, hats off to management, there has been little ramping and controlled emotions regarding market releases. Our pipeline of renewable is growing at a time when the public demand it. Ethically, I was a little concerned about J-powers ownership involvement, but at least the deal has allowed current owners to push the price skywards before financial close and in-turn restricting the % owned.

    It will be interesting how the late comers tomorrow value the news.

  7. #82
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    The next few months will be exciting. The J-Power stake will be a final piece of the puzzle and then we have to find out how big the equity raise will be to fund KS2. I've always believed it to be around the 20-30m mark. Besides one botched up CR management so far haven't made many missteps. It will be interesting to see how they will be managing this one. I've kept some funds aside as I believe it will be a CR with some sweeteners for existing shareholders.

  8. #83
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    This recent C/R has very little in it regarding costing and future costing. But I guess that is still to be completed and always changing.

    Have I missed the price of construction for Jemalong?

    Reading between the lines they seem confident to get finance for Jemalong, KPS, (165MW of 270MW KSP2) with 105MW to be decided later.

    To get finance for Jemalong and allow for more working capital. They need more cash in the bank and are asking for another 16.2m from shareholders.

    This will change the total issue to 379,914,392

    379,914,392 x .20 = Mcap 75,982,878
    379,914,392 x .24 = Mcap 91,179,454
    379,914,392 x .27 = Mcap 102,576,885

    Once finance is completed, They need Jpower to invest another 25m for more working capital, loan requirements, ect

    at .20 379,914,392 x 19.99% stake = 94,978,598 (18.9m) new issue = 474,892,990 .20 = Mcap 94,978,598
    at .24 379,914,392 x 19.99% stake = 94,978,595 (22.7m) new issue = 474,892,990 .24 = Mcap 113,974,317
    at .26 379,914,392 x 19.99% stake = 94,978,595 (24.7m) new issue = 474,892,990 .26 = Mcap 123,472,177


    In return shareholders get Revenue of 66m - 78m

    The big question for me is costs,

    Project costs
    Finance costs
    Ongoing costs

  9. #84
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    fwiw The construction contract with UGL to build the 50MW Kidston solar project cost $110m to engineer, procure and construct and also included 5 years of operation and maintenance. There was an investor presentation attached to the latest CR https://stocknessmonster.com/announc...asx-2A1155842/ but it only says that they need 31.7m (they'll use $12.5m in cash) to fund Jemalong incl additional working capital.

    My guess is that they are in negotiations at the moment to complete refinance their debt requirements as Kidston Stage 1 is fully operational, the arrival of J-Power and indicative NAIF funding for the Hydro project. I guess it helps that Genex has experienced bankers on their board.

  10. #85
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    Quote Originally Posted by silu View Post
    fwiw The construction contract with UGL to build the 50MW Kidston solar project cost $110m to engineer, procure and construct and also included 5 years of operation and maintenance. There was an investor presentation attached to the latest CR https://stocknessmonster.com/announc...asx-2A1155842/ but it only says that they need 31.7m (they'll use $12.5m in cash) to fund Jemalong incl additional working capital.

    My guess is that they are in negotiations at the moment to complete refinance their debt requirements as Kidston Stage 1 is fully operational, the arrival of J-Power and indicative NAIF funding for the Hydro project. I guess it helps that Genex has experienced bankers on their board.

    Thanks for the 110m information, I started looking through announcements and gave up,

    The wording on these documents is for the banking type, not the working with wood type.

    Agree, the finance side of the operation seems very well managed.

  11. #86
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    Quote Originally Posted by Carpenterjoe View Post
    This recent C/R has very little in it regarding costing and future costing. But I guess that is still to be completed and always changing.

    Have I missed the price of construction for Jemalong?

    Reading between the lines they seem confident to get finance for Jemalong, KPS, (165MW of 270MW KSP2) with 105MW to be decided later.

    To get finance for Jemalong and allow for more working capital. They need more cash in the bank and are asking for another 16.2m from shareholders.

    This will change the total issue to 379,914,392

    379,914,392 x .20 = Mcap 75,982,878
    379,914,392 x .24 = Mcap 91,179,454
    379,914,392 x .27 = Mcap 102,576,885

    Once finance is completed, They need Jpower to invest another 25m for more working capital, loan requirements, ect

    at .20 379,914,392 x 19.99% stake = 94,978,598 (18.9m) new issue = 474,892,990 .20 = Mcap 94,978,598
    at .24 379,914,392 x 19.99% stake = 94,978,595 (22.7m) new issue = 474,892,990 .24 = Mcap 113,974,317
    at .26 379,914,392 x 19.99% stake = 94,978,595 (24.7m) new issue = 474,892,990 .26 = Mcap 123,472,177


    In return shareholders get Revenue of 66m - 78m

    The big question for me is costs,

    Project costs
    Finance costs
    Ongoing costs
    Possibly another (final?) cap raise for the pumped hydro as well if J-Power, NAIF and EnergyAustralia’s contributions don’t quite make it.

  12. #87
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    Like the Black Caps last night never in doubt right?

    NAIF Approves $610M Concessional Funding for Kidston Hydro
    https://www.asx.com.au/asxpdf/201907...0cb87byj9z.pdf

  13. #88
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    Today we will find out if the 24c SPP has been scaled back or not. The minimum investment was A$5000 so smaller shareholders may have been left out of here. I've gone for the maximum A$15k (current SP 26.5c) as I don't think they are going back to shareholders for financial close on KH1.

    Simon actually confirmed in the latest interview here https://youtu.be/ZuyjcvFMhrQ that with the NAIF loan of A$615m and the up to A$25m investment by J-Power their share of this project is fully funded. For the first time ever they gave a concrete timeline for financial close on this project which is by 30th September.

    I expect a re-rate of the SP leading up to or following this announcement.

  14. #89
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    The SPP @ 24c was way more popular than I anticipated. They expected to raise $3m but got subscriptions for almost $5.3m. https://www.asx.com.au/asxpdf/201907...6ch638sz2r.pdf

    Opened at 25.5c after shares have been allocated so to those inclined to take a small profit could do so now. I'm in for the long haul but may scale back my very large holding after the expected re-rate after KH1 financial close.

    P.S. Directors have also participated in this SPP for the full $15k
    Last edited by silu; 26-07-2019 at 11:27 AM. Reason: added a P.S.

  15. #90
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    Quote Originally Posted by silu View Post
    The SPP @ 24c was way more popular than I anticipated. They expected to raise $3m but got subscriptions for almost $5.3m. https://www.asx.com.au/asxpdf/201907...6ch638sz2r.pdf

    Opened at 25.5c after shares have been allocated so to those inclined to take a small profit could do so now. I'm in for the long haul but may scale back my very large holding after the expected re-rate after KH1 financial close.

    P.S. Directors have also participated in this SPP for the full $15k
    Like you, Silu, I have way to much of this in my portfolio.

    Have re positioned a lot of things over the past year, but this is one I have held now since March / April of 2016 and lots of profits from other more speculative investments I push into Genex.

    Very excited about the projects and the company.
    “If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment.” ― Marcus Aurelius

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