NWF - NZ Windfarms

[Dassets]

Turbines essentially can last for as long as you want to maintain them. I think these had 25 yrs with a refurb plan in the early 2030s for a further extension of 15yrs. It is in the notes for the annual report. Then it comes down to economics aka return to shareholders against a risk profile. Who knows what consents are for brownfields developments as opposed to green fields. I am not an expert in that field but 5 yrs from the point you decide to go for a consent to operating would be optimistic. All this stuff is in the future as I said. Today is about returning cash to shareholders.

[Aarrgghh]

The turbines are not at end of life, I don't know how you came to that conclusion. At some unknown point in time is is obvious that it may make sense to repower. When that is will be based on financial outcomes for shareholders.

Why did I think that the decision to re power the farm was necessary now? From the Chairmans Review in the Annual Report just released:
"Without a clear view of the future we do not know whether we are running the current fleet for ten years or twenty years. Clearly if the fleet life is only ten years this will materially affect our settings for capital expenditure and maintenance"

10 years to withhold enough capital to allow financing a change in turbine would obviously be not enough - 20 is probably pushing it. The possible environmental court stuff would have been relevant as there is risk this could take a long time as well.

But thankfully you are correct, later in the report the refurbishment at 200k per turbine "is expected to allow the existing turbines to operate for a further twenty years up to age range of 40 and 45 years"

Also in the annual report the turbine lifespan is given as "Wind turbines – including tower, blades and components 5 to 40 years" as previously mentioned.

So good news, but again not super clear communication with three different date ranges given. We know here that WTL is not associated with NWF, but it is important that other potential investors are well aware of this as well.

And ~20 Million for refurbishment in 12 years is not to be sniffed at, obviously planning for this expense will come out with the long term plan as mentioned in the report.

[Dassets]

Argh,

You are reading way too much into things. You say a decision is required now then quote something to support your view. That quote is clear that work needs to be conducted to determine what path is sensible. It doesn't say a decision is required now. That work is a normal process. Then the rest of your conclusions are re capital are too narrow in that they assume shareholders will provide all the capital and that capital must be saved up. That is just not how business runs. Come to the AGM/ASM as a forum to understand the business.

[Aarrgghh]

haha maybe its my turn to apologise for unclear communication.

You asked how I came to the conclusion that a decision on the replacement of turbines needed to be made now, my point was that it was based off information in the Chairmans review, which states the current fleet has a life span of 10 or twenty years.

And I must admit, I did misread this line "An assumption that existing shareholderswill not provide capital to undertake redevelopment" as an indication the company was not wanting to issue more shares to fund development. Although to be fair I never said that all the capital would need to be saved up, just enough to allow financing (I'm assuming the bank won't lend 100% of the value)

I really would like to come to the AGM, but unfortunately I am currently based within 800km of the Antipode of where it will be held, so a bit far to travel I'm afraid.

[BlackPeter]

I really would like to come to the AGM, but unfortunately I am currently based within 800km of the Antipode of where it will be held, so a bit far to travel I'm afraid.

Maybe something for the board to ponder on (@dassetts - hint, hint!). While not every shareholder is on the other side of the globe - it is even for most NZ shareholders impractical to travel through the country to Palmerston North (or wherever the next AGM will be).

Other companies are able to record and publish a video of their AGM's, some even allow shareholders to remotely ask questions during AGM's. Technically this is not hard - it only requires a board who wants to support and interact with their shareholders. What about NWF?

[Independent Observer AUNZ]

Maybe something for the board to ponder on (@dassetts - hint, hint!). While not every shareholder is on the other side of the globe - it is even for most NZ shareholders impractical to travel through the country to Palmerston North (or wherever the next AGM will be).

Other companies are able to record and publish a video of their AGM's, some even allow shareholders to remotely ask questions during AGM's. Technically this is not hard - it only requires a board who wants to support and interact with their shareholders. What about NWF?

Good news BlackPeter - the Annual Meeting is in Auckland, and it is just three weeks away. See you there?

Hotel Four Points bySheraton, 110 Mayoral Drive, Auckland at 11.00am on Wednesday 25th September 2019.

http://nzx-prod-s7fsd7f98s.s3-websit...042/305230.pdf

[BlackPeter]

Good news BlackPeter - the Annual Meeting is in Auckland, and it is just three weeks away. See you there?

Hotel Four Points bySheraton, 110 Mayoral Drive, Auckland at 11.00am on Wednesday 25th September 2019.

http://nzx-prod-s7fsd7f98s.s3-websit...042/305230.pdf

Well, I guess this is good news for the people who live in Auckland (which is not me ). I guess my point was - no matter where the AGM happens to be, there will be shareholders who can't afford to lose a day or more to go there - i.e. setting up the AGM as video conference (hybrid AGM) would be for any listed company a great service for their shareholders.

Am I going to the Auckland AGM of NWF? Actually there was a time I used to (cheap flight, expensive taxi and a day lost), but at current my interest in NWF is more sentimental - not really worthwhile to make the trip for me ... my memories of having been a NWF shareholder are not that amazing that I need to warm them up ;

[Dassets]

We are looking into it but it may not happen this year.

[JAYAY]

The annual report 30/6/19 shows 108 shareholders with less than 1000 shares and yet in recent weeks we have seen heaps of tiny little trades going through (Stocknessmonster).What is that all about?

[BlackPeter]

The annual report 30/6/19 shows 108 shareholders with less than 1000 shares and yet in recent weeks we have seen heaps of tiny little trades going through (Stocknessmonster).What is that all about?

Probably just a bot - unlikely to have anything to do with small shareholders ...