Yeah, I have even harsher words for the IFN Quarterly but this is the path they've chosen.
The Project name is Como, however, it is not located in Como. Rather, it is close to Rockhampton CBD in QLD's industrial heartland. We're making a very generous developer margin on K2H, so our equity on this project is good to go.
Construction risk on K2H is worn by John Holland. We have fixed-price agreements. If EA wants it after 30-years, fantastic, they have to pay GNX holders another fortune.
We've found our 50% equity partner - it'll be announced in the coming weeks. There were several parties willing to sign and that's publicly available. Thankfully, this is the one part of the last year where we've been able to drive the deal that is right for Genex. They're handing over $100m and receiving far more than that back on a fixed agreement. It's a no-brainer.
TLT is a first-class unit. For mine, their share price still doesn't the serious Dundonnell issues and Snowtown curtailment - reflecting the quality of their pipeline and just how tightly held their register is. Would be hard to make a meaningful investment.
Jeremy
IFN Price at posting:
92.0¢ Sentiment: None Disclosure: Not Held
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