Market Update

Genex Power

Good afternoon

metals are not looking good, once again...Investors are starting to seriously worry about a trade-war induced recession. Thank you, Mr. Trump! Nickel down more than 2%, copper more than 1.5%. Oil is holding up - again, thank you Mr.Trump for the Iran-trouble!

Glencore is in sight of the US-prosecutor....I guess their activity in weird countries would have been difficult without any "favours"....poor Ivan Glasenberg...very unpleasant situation!

Genex Power - I just cannot believe, that this thing is still trading at 30ct! Receiving 516 mill A$ form a government-run fund for up to 25 years, and sub 4% interest - and even more important: As subordinated debt! Respected Broker Euroz have recently increased their share price target to 80ct - and their underlying valuation to 1,05 A$...yet this thing is substantially desrisked now, while it´strading at an unchanged 30ct! I completely agree with Euroz - the full financing is more or elss a formality now. The main step to take: An off-take agreement with a blue-chip electricity retailer. I could understand the markets reluctance, if this would be a mining project in Spain, fighting NGO´s, the bureaucrats, and the government! But this is a project as green as it gets, with strongly demonstrated government support, and strong economic need, in a great country! 

There have been rumours around about a line of stock overhanging the market - and looking at the stock, this must be right, as it´s the only, sensible explanation for this share price. That´s great - it gives us small boys the chance to gobble up some stock quietly and cheap! No reason to pay up here - but a great time to accumulate. If somebody wants research on it - I might find some for you - just let me know. No Trump, no trade war, no smallish recession should have an impact on this story - the only potential negative would be very strongly rising interest rates in the short term, or a substantially weaker A$ ( as we are Sfr or Euro-investors ).

Have a nice evening