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15/07/19
22:26
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Originally posted by gerling:
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Well put Ben. Market would never favour a lumpy "success fee" model business... will always trade on discounted valuation, similar to cylical or speculative stocks. At least WND is improving the ESG metrics of my portfolio. I can feel green and self-righteous, like when I eat mock-meats and drink Fairtrade coffee. If even Kennedy were completed. (And valued accordingly) WND must be pretty close to book value. Maybe it is time they ditch the "development / grid connection phase of their business model and look to exit projects sooner (as per their US operations / Greenich)... seem to have a better track record in the earlier phases (site development / analysis) than the construction phase. And surely - they are very different skillsets for a small team of ~10 staff in Canberra.
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The Kennedy lack of communication hurt. Although Adani's project had similar connection issues, the key was transparency. A NAIF injection into the Copperstring transmission line and Kennedy Q3 energisation will change things quickly. One piece from the recent ASX announcement did intrigue me... "Competitive bids have been received from multiple suppliers of next-generation turbineswith larger capacities than previously planned". There's some great new tech here in this space that offers significant benefits to Windlab at Lakeland and a 1200MW Kennedy - https://www.vox.com/energy-and-environment/2018/3/8/17084158/wind-turbine-power-energy-blades?fbclid=IwAR0bJIWEPA8XTJ1aGK99SCGTlHlM9h-_f3KLZUqygioECh3YH-nz0_c3SRc Have noticed a reasonable amount of volume today and there are some price gaming. 4 shares traded ($3.04 total) after close to drop the price to 76cents, being one. I wonder if many would see value in handing over their shares on the back of this.