Queensland government to deliver five-year Energy Roadmap
In a show of faith in pursuing manageable pumped hydro projects, the government has also announced it will invest initially A$30 million into the Mt Rawdon Pumped Hydro project through CleanCo to help progress the project towards a final investment decision.
Despite the economics surrounding renewable energy generation firmed up with energy storage, the LNP Queensland government will continue to pursue coal-fired power generation, going as far as to say it will play a “central role” in the grid.
Note: If the Project proceeds, further work would be required within the mine pit to re-shape the pit for use as the lower reservoir for the Project. In circumstances where CleanCo has acquired MRPH, that further work would be funded by CleanCo, but Evolution would retain the option to process any gold ore extracted as a result of that cut back/reshaping work.
Subject to certain qualifications, the revenue generated by Evolution from the sale of any such gold would be 100% to the account of Evolution up to the first 8,000 ozs, with the revenue in respect of any such gold above 8,000 ozs, net of agreed costs and deductions, to be shared equally between Evolution and ICA Partners.
8,000 ounces of gold, at the current Australian spot gold price of A$5,170, would equate to ~A$41 million in sales revenue to Evolution.
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
EVN Price at posting:
$7.64 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)