News: GNX Genex Power seeks trading halt, page-18

Kingpingu,

We have been talking about a solar project. The solar projects focus is just as an energy producer, rather than a peaker producer. The pumped hydro storage will act as a peaker project where it will pump water up to the Turkeys Nest during low electricity prices (at midnight) and then discharge them during peak times. They will not discharge the water and generate electricity if they don't have a margin - that's just bad business.

There has been a report distributed to holders which is a research note showing the arbitrage opportunity that exisits in Queensland. In this they factor in the cost of pumping and still come up producing a profit after all costs included.