Can't help but admit I like watching and listening to Craig Scrogie, however I do have reservations about his enthusiasm and presentation of results. In his presentations, such as the H1 2018 results he presents contracted data utilisation (39.2MW) as almost the same as operational storage (which was around 33.2MW). That is, he included 5.4MW for S2 when S2 had only just turned their first sod and income was at least 6 months, if not 12 months away, as well as a bit for M2 and B2. In the Morgan's presentation there was more of the same, with Craig persuasively presenting the expansion at M2 (4x2MW) as locked in, but with no details of the sales negotiations which must have driven this decision. I just have reservations about such expansion without supporting data, and NXT's recent execution of timelines, and hence slower than expected cash flow increases.
I thought Malhava's contribution (3325 3875) was great as it used this information as an alternative way to do some longer term budgetting, and its great to see management giving projections, but we need to be aware of over-optimistic sales and timelines and realise that budgets are a moving feast.
Likewise - looking forward to the full year results.
NXT Price at posting:
$7.27 Sentiment: None Disclosure: Held
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(20min delay)