General GNX News, page-914

A couple of points to note out of today's announcements.

Impact of solar (why the coal plants are 'unprofitable':
- "The increasing impact of intermittent power on energy prices highlights the need for large
scale storage options such as K2-Hydro and the BPP."

Jemalong seems have not been doing much this week seems to still be in testing/commission phase:
- "The project, which is currently in commissioning, has the potential to make a significant step change in the Company’s revenues and operational cashflow."
- "focus" on "Continued operational ramp up of the Jemalong Solar Project to full capacity"

Contractual close/Financial close of Pumped Hydro:
- "We look forward to updating the market on the financial close process and
construction activities at Kidston over the coming weeks.”
- Genex continues to work closely with its project stakeholders to close out the remaining workstreams necessary to reach contractual close in the current quarter ('coming weeks') and financial close early in Q4 FY2021 (CY Q2 (April - June).

COMO - Battery
- "We have made considerable progress on this project by securing land, selecting a battery
supplier and submitting our Application for Connection to the Powerlink network."
- On 18 December 2020, Bouldercombe Battery Project Co Pty Ltd was
incorporated.
- On 18 December 2020, Bouldercombe Battery Project Trust was established.
- On 18 December 2020, Como Energy (Bouldercombe) Hold Trust was established.

WInd
- "Exploring the options surrounding the development of the Kidston Wind Project with
the project’s strategic partner, J-POWER."
- "7 December 2020, Genex (Kidston Wind) Pty Ltd was incorporated."

Financials:
- Revenue up 60% (driven by an increase in performance of KS1 and the receipt of $1.5m of liquidated damages). We should have revenue from Jemalong coming online soon so with a loss of Net loss before tax of $3.37m.. good chance we might be close to breaking even/profitable shortly although I would imagine our costs will increase getting the other projects off the ground.
- Operating loss of $900,068.
- Money in the bank - "Cash and cash equivalent at 31 December 2020 of $31.7m excluding term
deposits/bank guarantees, leaving the Company in a strong cash position to continue
to progress K2-Hydro to financial close and continue the advancement of the BBP in
Queensland."
- Covid (and zoom) has helped reduce the travel and marketing expenses! 21 million as opposed to 153 million.



I think we are in a pretty good position and I would consider the recent falls opportunities (IMO, DYOR).