The "Kidston Independent Committee" agreed with J-Power to...

The "Kidston Independent Committee" agreed with J-Power to withhold from the ASX and GNX shareholders the flow of cash, to and from, the Baulderscome Battery since it began full operation of 12 December, 2023.

@aclemence has provided that information but it will only be seen by a few HC participants:-

Discharging: https://nemlog.com.au/nem/unit/BBATTERY/20231212/20240323/
Charging: https://nemlog.com.au/nem/unit/BBATRYL1/20231212/20240323/

12-Dec-2023 00:05 to 22-Mar-2024 15:15

Discharge revenue: $4,220,460.77
Charge cost: $510,934.98

That is the cashflow for the 50MW/100Mwh Bauldersome Battery for 101 days.

Based on these figures annual revenue may be in the order of $13 Million.

It is noteworthy that the revenue IN is over eight(8) times the cost of off-peak electricity/power provided to the battery, from the grid.

The completion of the POWER LINK 275kV TRANSMISSION LINE is crucial. The line will enable the full energization of the Kidston Pumped Hydro. It has long been stated that energization will be before the end of 2024.

Kidston Pumped Hydro is measured as 250MW/2500Mwh; 25 times more Mwhs than the Bauldersome Battery.

The electricity to pump will be sourced from the Kidston Stage1 Solar AND the grid, via the POWER LINK 275 TRANSMISSION LINE.

The glaringly obvious question is this. Has the "Kidston Independent Committee" and its hand picked " banker", Goldman Sachs, placed fair and reasonable SHAREHOLDER VALUE on the financial situation which will emerge, without a takeover by J-Power, at the beginning of 2025?

Will the Goldman Sachs report be available to GNX shareholders?

I have, without success, asked the "Kidston Independent Committee" the what annual NET income would be generated by the Kidston Storage Pumped Hydro versus the annual repayment of the $610 million NAIF concessional loan, once commissioned , later this year.

To be clear, I am not against an offer being made for the company as long as the price offered can be demonstrated to be fair and reasonable. I am yet to see much of a case being made for acceptance of the J-Power 27.5 cents offers, especially when compared to the August 2022 25.0 cent offer from Skip Capital.

By way of background I have copied words from the last two Genex Power Annual Reports about the POWER LINK 275 kV TRANSMISSION LINE:-



." I would also like to acknowledge the Queensland State Government for their commitment to a 20-
year revenue support deed for KS1 and for funding of $147m towards the construction of the 275kV
transmission line between Guybal Munjan (Mt Fox) and Kidston to support the establishment of the
Kidston Clean Energy Hub. The significant and ongoing support from stakeholders reflects the growing
focus on renewable energy generation and storage in Australia which, in turn, provides significant
growth opportunities for Genex.

From 2022 Annual Report


"Completion of all final approvals and easement acquisitions by Powerlink
Queensland for the 186km long 275kV transmission line from Kidston to Guybal
Munjan (Mt Fox), with works significantly advanced on the Guybal Munjan and
Aurumfield (K2X) substations and route clearing activities well advanced."

From 2023 Annual Report

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