Associated News, page-3351

Interesting read through here https://wattclarity.com.au/articles/2024/07/a-tale-of-two-mega-projects-project-energy-connect-and-snowy-2-0-timelines-part-2/

Mega projects across the NEM all experiencing cost blowouts and delays. This creates a decrease in investor confidence / the willingness to put money towards these projects, knock on effect being less projects being put up means constrained future energy supply. In combination with coal powers having a deadline to close (although recently being delayed), it doesn't take a genius to figure where this is all headed... Oh and don't forget, demand is reaching all time highs across the NEM as seasonal weather is seeing more extremes in both hot and cold.

Already established projects with established infrastructure (QPME) are going to have a major competitive advantage as the barrier to entry for these mega projects is forever increasing. Smaller solar and wind projects notably less so as it is a cookie cutter style approach.

Really interesting statistic "the authors have collated a database of 16,000+ major engineering projects around the world, and conclude that 92% of these projects were delivered over-budget, or over-schedule, or both." This is definitely true when it comes to larger scale energy projects.

Extremely bullish on the medium-long term for QPME, just short term some challenges to overcome. Looking to the next quarterly for how much the operating loss will be, but predicting somewhere around $9m operating loss.