I definitely think IFN is a takeover target. This is because:
1) It is producing LRECs currently, for which all major electricity companies will require in 1-2 years (AGL, ORG, Energy Australia)
2) It has secured permits / land for future development equal to the electricity it currently generates
3) It has a high cost of debt which would could be lowered significantly if refinanced (change of control), or if another (larger) company with a lower cost of debt were to acquire it
Assuming takeover and LREC prices remain >70c in medium run, exit price should be >60c.
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