I like this GNX opportunity more every time i look at it.
Kidston needs a long term energy off-take partner. It has every other element in place for this shovel-ready project. This dove-tails beautifully with IFN's stated ambition to contract another 600Mw of generating capacity.
The Kidston pumped hydro project would be highly complementary to IFN's existing gas and battery firming assets.
I would redesign Kidston Stage 2 Wind with bigger more efficient turbines as this remote location is not height constrained
The GNX AGM slides (p6) say the PH can start generating in 30 seconds. Adding a mini-battery with 60 seconds capacity would give instant output and also provide FCAS.
The, ahem, share register is wide open. IFN could pick up 5% of GNX on market at around 20c for $4m - less than 2 weeks cash flow - or 20% for a little more, say, $18m.
I am sure Australia's army of merchant bankers are winnowing through every conceivable combination of GNX and other energy companies. This combo might work.
Ash
IFN Price at posting:
65.5¢ Sentiment: Buy Disclosure: Held
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