General GNX News, page-1365

Anyway, the interesting takeaways for me were:

*positive view on having Government stakeholder (NAIF) with a vested interest in Genex’s success
*We're on a solid fixed contract but things get messy/legal when there's a shade of grey and a capex like that of K2H
*Dividend estimate in 2025 of 2.5 cents a share, assuming 25% further dilution for Kidston Wind
*Market risks could see EA leave after 10 years

Some good talking points. ARENA and NAIF will likely continue to assist our success path. Kidston Wind is a joint venture with J-POWER's so we should have sufficient access to finance and initial capital. With revenue coming from JML, KS1, & BBP, we should have options to avoid dilution.

Unless the market is dead, I'm not fussed if EA taps out at ten years. Ten years at $50mn gives us $500+mn to repay the NAIF loan, and 70-80 more years of useful life for us to manage. I doubt this would eventuate, as long as EA retains its current trajectory K2H retains significant strategic importance to their portfolio. Also, given the power energy retailers command, I can't see the relevant bodies creating an unprofitable energy market for a jewel in their renewable fleet.

Regards
Jeremy