Some good news on the GBG thread regarding power ann last Friday, good read for MMX holders.
corporatefile.com.au
Are you confident that the proposed 330kv upgrade to Geraldton will happen, and in a time frame that suits your expansion plans.
CEO Garret Dixon
We are very confident of that outcome. A 330kv power upgrade all the way to Geraldton is a critical piece of infrastructure that will drive the development of the Mid West region. The WA State Government has thrown its full support behind the development of the Karara Project, Oakajee Port, and spoken of its desire for an adjoining industrial park and major industry to support Oakajee. All of these projects are intricately linked – Karara has already stated it is prepared to ship its future expansion tonnages through Oakajee as soon as it is operational – and all these projects require upgraded power infrastructure in the region to reach their full potential. Given the current economic environment we are not surprised at the Government’s decision to defer the upgrade, but we are confident it will go ahead and in a timeframe that suits our own plans to expand output from Karara.
MMX Price at posting:
$1.41 Sentiment: Buy Disclosure: Held
