"all energy related stocks should re-rate, from most conventional first (coal) to least conventional (geo) last (and hopefully as a uranium bull nuclear in the middle)"
Nuclear may have a higher global installed capacity, but we will be exploiting geothermal electrons long before fission becomes a viable alternative.
I too support nuclear power and the uranium it requires (and invest in the latter), but I think that, with regards to the ASX, geothermal is due to re-rate well before the U sector. Australia is too well endowed with geothermal resources for the disparity between profit potential and market capitalisation to be maintained for long.
After coal re-rates lower, this sector should experience excellent gains, as geothermal offers the lowest cost/MWh and is the only base load provider of renewable electricity (with the possible but unlikely exception of certain wave technologies such as CETO) capable of widespread implementation.
The 1MW GDY plant should see the end of these low valuations, followed by their 50MW module, then the PAX 1MW and 50MW modules. TEY looks set to ride the tide, as there is little indication that they will commercialise a project any more rapidly than the other junior GEOs. That said, who knows what the AGL partnership will stir up?
TEY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
