Unplanned shutdown of the 80MW gas turbine, offline in January and not expected to come back online until after planned TPS shutdown from Apr-June. Reduced cash position, drawdown of $10m facility to ensure sufficient funding prior to TPS shutdown. Additionally, there will be reduced gas sales in January due to planned Dyno shutdown.
Now we have excess gas (from Dyno) that was to be utilised for extra electricity at TPS which mightn't be used. Just a few negatives I noted (recent new holder here, not trying to down ramp).
Future from June onwards looks good I believe once the above is amended and the new TPS electricity agreement is onboard. One positive will be the Morandbah 12.8MW electricity deal improving the bottom line by roughly 500k/month, starting Jan 2025.
QPM Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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