Again another pie in the sky perfect fit for IOT. History...

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Sharestuff89

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10/04/18

21:04

Post #: 32359540
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Originally posted by spinefx ↑

So Hunter Energy is proposing to recommission the Power Station over the next 12 months.

The Redbank Power Station

A power station that was commissioned in 2001 and promoted as one of Australia's lowest cost power generators, waste from the coal mine was to be used.

The howls from the Greenies were deafening and they tried to have it closed, unfortunately they had no luck.

Didn't matter, the fact that its power generation method used unconventional and expensive equipment meant when it came to maintenance it was, well very expensive. So with $190mill of debt it was put up for sale. No one wants an expensive to repair power station, twelve months later Redbank was purchased by Biogreen Energy Pty Limited (Biogreen), a wholly-owned subsidiary of Redbank Energy Limited (REL), for $5 million. By 2017 Biogreen couldn't make it work and it was put back on the market.

Now the newly formed Hunter Energy are looking to potentially bring back a power station that in its current form is clearly not economic unless substantially modified, at huge cost one would imagine.

IOT are looking to do a deal that, The conditions precedent must be satisfied on or before 31st December 2018 or otherwise the agreement will automatically terminate.

On the back of this deal they will have someone build the next "Silicone Valley" on site in the Hunter Valley using the cheap power generated.

So, a deal not finalised until 31/12/18, the design and construction of any large scale Data Centre is at least a 2-3 year project. Which at minimum 2020/21, not allowing for the Government delays, Environment delays, construction delays, finance delays...

I have a feeling we may never see IOT's Blockchain Application Centre.

For course, all of the above is my own opinion.

Cheers

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Again another pie in the sky perfect fit for IOT. History repeating itself over and over again. Trying to save the incomes and share price for the Sean Neylon’s of the world. Unbelievable. IMO

Last edited by Sharestuff89: 10/04/18

IOT Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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Again another pie in the sky perfect fit for IOT. History...

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