Ann: April Operational Update, page-9

Last quarter average billing per GWh at 90 GWh average was about $35.000, costs were about 700k above income, meaning 20 GWh. Very conservative, an average billing of 110 GWh per month should be achievable this quarter which means by constant costs the extra 20 GWh will deliver that required income to become cash flow positive and that is in line with forecast.

That way 150 Gwh would mean a profit of 40 GWh = $ 1.4m per quarter. Pa that would be about 5-6m x a PE of 15 a MC of 75 - 90m. Divided that by 2.5b shares max. the sp should be at least at 3.5c - 4 c. Now apply the usual PE of 30 for fast growing comps and a sp of 10c by the end of the year is very realistic.

That's not taken into account any extra growth or expansion into NSW.

Agreed, 2.2c I paid for this morning is very cheap. Even my blindfolded grandma can see that.

GLTA