A market is made of many views. Mine might be an outlier, or may prove prescient. Time will tell.
I am not trying to convince anyone of my idiosyncratic theory. I put it up to expose and refine it.
Yesterday, AGL wrote down its assets by $3,564m pre-tax, including "$1,920 million in provisions for onerous contracts related primarily to legacy wind farm offtake agreements." A mere $532m was written off its much larger fossil fuel generating assets, which we know are stranded and unviable. Ouch. This renewables transition can be very costly for players. It is not enough to have abundant capital, good advice and a deeply considered path forward.
From the outline GNX has publicly shared, I believe GNX's agreement with EA will prove similarly onerous.
I'll watch from over here.
Ash
General GNX News, page-874
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Last
27.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $373.9M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.3¢ | 27.0¢ | $263.9K | 977.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 11173627 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 5037239 | 38 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| GNX (ASX) Chart |