Dear All, I want to apologise for the level of bombardment of messages over the last few days but hey the more we discuss between our community the better position we ALL will be in if an offer eventuates. I passionately don't want to give away our company for nothing.
So I have something of considerable interest.
So have you all heared of MR1? Probably not. They are listed on the ASX suspended for now as the company needs to define which direction it wants to go. But yesterday they had a announcement. Note currently the company is basically doing nothing so its kind of a shell.
They want to build a Hydro battery exactly like ours in Canada in a mine pit. 320 MWH battery versus ours being 250 MWH battery. So let's compare the cost of building versus our offer.
MR1 320 MWH battery $750M to build and $75M to build transmission line. Total $825 Million dollars. The soil they are building the giant battery is contaminated and they need significant regulatory hurdles to oversome. They have no funding in place no government grants in place. They have no experience and they have no builder to build it for them. No fix contract. And funding is only going to increase.
GNX let's compare our company 1 x 50 MWH Solar Kidston complete and revenue generating 1 x 50 MWH Solar Jemlong complete and revenue generating 250 MWH Hydro, fixed contract, started construction, funding in place at cheaper rates, no contaminated soil 1 or 2 50 MWH Tesla battery bolt on's Feasibility on Kidston Wind 250 MWH
And Skip want our company for $580 Million?? Does this really make sense to you?
GNX Price at posting:
21.3¢ Sentiment: Buy Disclosure: Held
