I agree with this analysis. The poor financial management has...

I agree with this analysis. The poor financial management has put the Board in a corner unable to make even small battery projects without CR and government support, JV partner, etc... Hydro is a great project but GNX just didn't have the capital (non debt) to be able to do it without massive pain. Then they were forced to sign the revenue limiting deal with Energy Australia to get the debt. The business is great the assets are excellent but poor financial management means this will go through.
Is it worth more? Sure it is but it needed a better capital structure (more equity from the start) so that we could further develop the pipeline. In a sense GNX without more capital is stuck waiting a good 2-3 years before it can do anything. And still it will be hard to get more debt they will need CR's which the market may or may not like in 2-3 years. Hence Managemet f it. I am actually favouring the sale now. Hopefully, other bidders come by and see the great assets on offer and the low debt financing obtained.