**Opinions only. DYOR**This is a pretty good version of a...

**Opinions only. DYOR**

This is a pretty good version of a 'pumped hydro update'. Seems like everything is agreed upon, we just need some i's dotted, t's crossed and signatures added.

- EA and J-power have agreed to extend their agreements to early next year (amendment deeds). Possible share placement if they don't get a waiver for the J-power amendment.

- The Execs are happy enough to say lets get started next year (Q1 2021) with the anticipated FC Feb 2021.

- The NAIF are happy to hand over the cash but is still subject to:
1) The negotiation and execution of the final finance documentation (I'm thinking approval of JV partner or parent company) - "advanced nature of the limited number of outstanding investment approvals" - "other limited outstanding investment approvals". This seems like it is one of the greater hurdles and is probably kept a bit quiet waiting for their approval just in case they get a last minute pullout like CLP did with the EnergyAustralia deal (now secured). Possibly trying to ensure the JV partner (or parent company) is happy to avoid any similar issues.

2) Queensland Government’s consideration of the project and the finalisation of negotiation and funding arrangement of the transmission infrastructure for the project. From what I can see the QLD govt is keen to back this project.

3) The Minister’s legislative consideration period (The ministers signature)

Price is back down!! If I didn't already have so many shares would probably buy more lol.

Just my thoughts, not advice.