Amusing to see punters willing to sell @ .80c only weeks after a well-supported rights issue @ .89c.
I'd call that giving money away.
If circumstances have changed, it is to the upside, not the downside. Consider how profoundly motivated state governments now are to encourage fresh investment in power generation. This does not detract from the fiendish difficulty confronting IFN negotiating the maze: political interference from a federal government captured by fossil-fuel interests, falling turbine costs which depreciate existing wind farms, renegotiating with states to construct more and bigger towers than earlier approved (yes, that's a really big one. See: Forsayth), everyone cost-shifting/ducking on grid connections and consumers grimly installing solar to flee high energy costs.
Then there is batteries, itself a revolution with an unknown end-game. Will they be expensively dispersed to households or beside cities or at the generating source with grid reliability benefits?
Stick all those permutations and combinations in a spreadsheet.
Meanwhile, the cash is pouring into IFN, paying down that horrible global finance facility and bringing refinancing forward.
I'm not selling!
Ash
IFN Price at posting:
80.3¢ Sentiment: Buy Disclosure: Held
