I appreciate your point regarding the larger turbines and agree,...

I appreciate your point regarding the larger turbines and agree, for the most part. There are several other externalities that perhaps I give weight to, for the most part, these will be answered by the KSW feasibility study, due in Q2.

I agree that it is understandable and said as much at the time. However, the risk is no less true for EA if they abandon the GNX project and instead possibly proceed with the Cultana Pumped Hydro Project, which utilises seawater as the LR/UR. EnergyAustralia has an active few years ahead as they rejig their declining generation and manage their portfolio value after a rough 2019. There is always some assumption of future energy prices, regardless. I'm rather interested to see a response, and we'll know soon as EA present their outlook at the 2020 Pumped Hydro & Battery Storage event in Sydney.

Late last year EnergyAustralia began public recruitment and shortlisting process for project managers and energy analysts specifically for the Kidston Pumped Hydro project (via SEEK & industry recruitment sourcing). It got very, very, very close and this was reflected in the confidence we saw from the Genex BoD. I suspect the wake-up call you refer to, in relation to the decline of 10-20 year PPA agreements, happened last November, and what we've heard since from Genex, industry and gov't is cognisant of that.