takeover Skip, page-30

Sorry for repeating this analysis guys but it might not get your attention as I had written it in an annoucement which doesn't send everyone a reminder.

I don't think 23 cents will cut it for the offer by Skip. In saying that what will happen is that Management will be given a management positions on good salaries and options in the new company. That's what I'm more afraid of a below the table offer to management to stick it to ordinary shareholders. I do believe this will be tried but not at 23 cents. I think the high 20's and its a possibility.

Management will also be thinking the share price of GNX will be in the $0.40 cents region in FY24 and much more once the wind project is finalised. So they also have alot to lose. This will be the calculations they will be doing they won't care about us shareholders.

The main thing in our favour is J Power which nobody has yet mentioned. They are the second largest shareholder. They have alot to gain with the SP increases particularly as they have signed a fixed price contract on the Hydro build. Remember at 20 cents a share. So with inflation being high and costs increasing its eating into their margins. And they would want compensation which won't be offered very easily. They will also make a killing when GNX is 60 cents a share. I think this is probably our security.