@tsibisI’m not interested in a pissing contest mate. You’ve said...

@tsibis

I’m not interested in a pissing contest mate. You’ve said the SP is ‘sleeping’ and an investment is ‘DEAD MONEY’. Clearly you’re wrong - there is money to be made here. Punters that bought in the teens a couple of weeks ago...hell, even yesterday...are sitting on a healthy profit today. Given when you bought in, the company cannot be held responsible for the fact you’re sitting on a loss - there’s only one person to blame for that.

Do I love the CEZ deal? No. Being a minority shareholder in the project leaves us exposed to the whims of our partner.

Do I love the fact it’s project-level investment? No. AFAIK EMH will still need to raise funds to cover head office costs. On the other hand it does mean EMH head office can’t just piss CEZ funds against a wall.

Do I love the price paid by CEZ? No, but I think it’s fair. If I’m not mistaken (I’m happy to be corrected by someone who knows more about project valuation) it values the project at about $100 million AUD. Not great, but given where we were at when the unexpected issue of sovereign risk reared its really, really ugly head, I’ll take it.

At least we’re now in a position to move forward. We have a powerful partner and secure project funding, so meaningful negotiations with potential end-users can finally begin in earnest.