Comments of interest... KPH - One ventilation shaft is complete (reverse bore hole). Cavern well progressed. BBP - should be energised before end of June, commissioned by summer Kidston Wind - in discussions with offtakers, possible news within the coming months. Investment decision by year end Bulli BB - in discussions with offtakers, possible news within the coming months/quarters.
Q and A details.. Q1 - NAIF details? 384m has been drawn, % and other details are commercial confidence Q2 - Cost of Ingress Event? Hard to put exact figure due to different components involved, main cost is due to lengthening tunnels and guidance of 10-15 m remains accurate Q3 - Impact of Big rain events? Government has approved releases from upper reservoir if required Q4 - Takeovers? non currently active, focused on BAU Q5 BBP Income? will begin generating income from energisation, will be unpredictable during commissioning Q6 - Tesla exclusive battery partner? No Q7 - KPH Cavern progress? Have very good knowledge of geological details now, first pass of cavern roof nearly complete Q8 - Jemalong to remain un-contracted? Wanted to wait until after project derisked before discussions. Open to PPA arrangement, did consider last year before market prices increased. Happy for the moment. Q9 - Cash usage? Using project equity before Debt, construction cost are coming from project budgets? Q10 - Kidston Wind PPA? Plan for >50% PPA (due to capital intensive/gearing) with some merchant exposure remaining. Q11 KPW Riks remaining? Once excavation is completed by year end this should significantly reduce an risks to Genex Q12 - New projects? Have good pipeline, open to it but no. Q13 - MAT % complete? Did not state, but will be completed by August. Q14 - Open to CATL and BYD for batteries? yes, tesnder did occur for BBP and they are preparing for this process to begin for Bulli battery.
GNX Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held