I think in this case the opportunity presented itself to Genex. As we know Vast Solar seems to be purely a developer of solar projects but not an operator.
They are invested in Concentrated Solar Thermal Power and by the looks they have realized that Jemalong is not a suitable sight for this type of project. By selling they can use those funds to develop their technology elsewhere.
So Genex who is currently negotiating funding for Kidston Stage 2 are presented with a project where the hard work already done on this project and if the numbers stack up and even if LGC prices go down to zero they could still get $10m pa for this project. But I guess the proof will be in the detail but with having a good board with sufficient background in banking I trust that the right decisions will be made.
Now bring on Stage 2! I hear the shovels are ready.
GNX Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
