General GNX News, page-48

Some more news as pointed out by SeaE;

Or below;

https://www.finnewsnetwork.com.au/archives/finance_news_network166692.html


Some points;
- Structural uplift in electricity prices in QLD due to major LNG projects, such as ongoing export works at Gladstone.
- Added volatility with the development of green energy (wind, solar); perfect for pumped hydro.
- Being an old mine have good network of roads, an airstrip, accomodation and an exisiting environmental authority. Last point means no significant approvals needed for development.
- 50MW solar project under a fixed cost arrangement, risk free from cost overrun or time delay.
- 20 year support deed from QLD government of first 50MW guaranteeing approximately $13 million a year.
- Spending 3 years developing a low cost solution of energy storage for the grid, working very closely with the QLD government.
- BFS completed on pumped hydro.
- Stage 1 financiers, e.g. Clean Finance Org, ARENA, all working closely on project.
- Removing the network upgrades as announced by the QLD government has reduced total project cost by approximately $100m.
- Currently working on revenue contracting to either the QLD government, government owned power generators, energy retailers or big energy groups where they are trying to forward sell the projects power to provide revenue guarantees so they can get attractive debt terms (same as what happened in stage 1).
- First generation from stage 1 at end of year, construction for both stage 2 and pumped hydro starts Q1 2018, stage 2 finished in 18 months, pumped hydro finished another 18 months later.