Ann: Appendix 4D and 31 December 2021 Interim Financial Report, page-9

One last rant on this Morgan statement:

"DEL generates renewable energy and is an energy retailer in Australia and New Zealand."

That opening line is almost completely incorrect. "DEL generates renewable energy" no they don't they are working towards that but the generate 0 renewable energy of their own. "and is an energy retailer in Australia and New Zealand" Australia yes New Zealand no.

It begs the question did the analyst who produced this update even bother to understand the company before they wrote it? Or did they simply look at a few of the numbers in the report and make a bunch of assumptions.

Now don't get me wrong there are some real risks going forward, funding is a real handbrake on the company right now but there are other huge upsides such as the Brickworks feasibility study that need to be considered. Add in progress on VIC1 and I just don't see how they can be advising selling at the current price.