IFN Valuation, page-4

Another comparable:

AGL sold 50% of its stake in the 420 MW Macarthur wind farm for $532 million in September 2015. This values the wind farm at $2.53 per MW.

IFN 557 MW * $2.53 = $1,409 m
minus net debt $595 m = $814 m
divide by 772.5 m shares issued = $1.05 for the operating assets

But this was in Sept 2015 when the LGC and electricity prices were much lower.

Valuing IFN from any angle gives a price WELL above $1.00 for the operating assets alone. Having carved off their overseas assets and cleaning up their balance sheet, this is a simple company to value and I'm surprised with the recent dip (which I attribute to some ridiculous discussions about wind power due to the national electricity market problems in South Australia recently).

I used to work for an investment bank and given my experience there I am convinced that these are the types of analyses that are being undertaken right now. I am becoming more convinced that IFN is a takeover target and some corporate activity will happen soon (full takeover, sale of operating asset to fund development, sale of development asset, joint-venture for development).

At prices below $1 this is as strong a buy as I can currently find on the ASX. Thank God for leveraged instruments like CFDs because I'm loading up the truck with these babies...