A research note from Canaccord suggest a 12 month target for GNX of 75c and a potential valuation of $1.69 (current 26.5c). It seems a bit high to me but I would certainly be happy if it were true. I usually try to value companies on a minimum earnings multiple and if it still makes me money I will invest. The market itself then decides what it thinks it is worth for the added bonus.

Their key risk seems to be that it needs to raise more equity funds if debt funding or equity partners are not forthcoming.

Personally I think that they have scaled down the project from their IPO prospectus as not to have this problem. I am sure that management has negotiated well in advance about this and amended their feasability study for the pumped hydro project accordingly. Well at least I hope they had this kind of foresight as they do pay themselves handsomly.

http://www.genexpower.com.au/uploads...-_nov_2016.pdf