Ann: Genex Extends J-POWER Exclusivity Period, page-25

My patience is starting to run thin after GNX is getting close to the end of the 2nd exclusivity extension period. I had a very similar feeling last time when Skip decided to walk away after 7 weeks of the indicative offer launch date.

For this reason, I started to rotate out from my long held position and sold down c.a. 25% of my parcel today. A parcel that I secured before and at the time of Kidston capital raise on/around 20c.

Just to reiterate, as a founding shareholder of Kidston Hydro project, my return on equity is measly ~25% over a 3+ years period. Some European Treasury Notes, which are essentially risk free instruments paid more in coupons than what I got out of my GNX 'investment'. At least I helped old mate building his dream house and getting his name engraved on a hydro plant. A Win-Win for everyone basically.

If the Japanese keep procrastinating, please don't extend the exclusivity period again, just walk away from the negotiating table.