It's fantastic news. In the short term it should give them them another option to deploy and test the CETO III units in deep water (in addition to Albany) and in the long term it gets their foot in the door at a very attractive site.
About 2 years ago I spoke with Alan Burns and he mentioned the potential that Garden Island held, in relation to providing Perth with electricity (not just the defence dept). I remember the sentiment was that the potential there was huge - they could provide a great chunk of Perth's electricity without offending anyone. It was a very long term idea, rather than a short/med term aim, but i love the fact they are chipping away at it, and achieving. In 5 year's time, we might look at today's announcement and judge it to be more important than it seems today, and one that paved the way for something immensely more profitable.
CNM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
