In relation to the Quarterly Report, 2 newInvestor Updates on Genex’s website:
https://www.genexpower.com.au/uploads/6/6/1/2/6612684/company_update_-_canaccord_genuity.pdf(20 Oct 2020)
GNX continued to progress its flagshippumped-hydro project during the quarter, and while it wasn't able to achievefinancial close as hoped, a pathway to this milestone in DecQ is clearlypresent, in our view. The company ended the period with $61mn in cash and$196mn in debt. We retain our SPECULATIVE BUY rating and $0.30ps price target
https://www.genexpower.com.au/uploads/6/6/1/2/6612684/september_quarter_update_-_el_c_baillieu.pdf(21 Oct 2020)
Investment view: The continued commitmentof all key stakeholders to the K2H project gives us a high degree of confidencethat the project will proceed. We continue to believe that the crystallisationof value for GNX shareholders from this remains relatively close (6-10 weeks inour estimation) and will be a significant positive catalyst for the stock. BUYrating maintained.
