Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

The economic curtailment of Kidston solar is not a surprise. This is the future of grid scale solar nationwide as price insensitive rooftop solar pushes it out of the market. The value then comes in trying to recoup those losses with higher bids on days of higher demand (hot days in QLD) or the weather we've had recently with hot cloudy humid, so I would expect better results this quarter simply based on January figures.

I've grabbed the historical pricing records from AEMO. There were only 21 five-minute settlement intervals of over $1000/MWh in December, with 16 of those occurring on the 28th and 29th that I wrote about elsewhere: https://hotcopper.com.au/posts/71649407/single. November only had 8 five-minute settlement intervals of over $1000/MWh. So we can definitely expect much more revenue for the current quarter compared to the previous quarter... however, autumn through spring (the majority of the year) are not likely to feature the pricing that we have seen recently, so expectations must not be extrapolated too far.

Good to see the wind development chugging along in the background. I know wind provides some sticking points for the environmental approvals because towers are typically installed on undistrubed sites on ridge lines. Hopefully we keep this one on track, because my gut feel is that the Hydrogen ambitions of Fortescue will fall over. Their heart is in the right place, but huge risk in green Hydrogen in my opinoin, I'd be more comforatable if our financing wasn't tied to it.

Good to see no bad news out of the PHES. But with excavations still proceeding, I can see a lot of investors continuuing to sit on the sidelines. It still carries most of our capital in a project that does still carry material risks.