GraniteShares Gold Trust BAR

Backlog

[SmilingDog]

Haven't had a chance to listen to the webcast yet.

But saw in the presentation that the backlog grew to 145MW - blowing past their year-end goal of 120MW - pipeline at close to 800mw (they have historically converted 1/3 of this)

Remember, the company has said that 100MW = ~$20M of recurring revenue + developer fees

At a ~2 year development cycle we're talking about around $30M of revenue in 2024 - around were street estimates are (sell side analysts finally look like they know what they;re doing)

Solar peers are trading north of 10x 2024 sales - that's a $300M+ valuation on today's prospects - then factor in a massive pipeline of opportunities

Then factor in a major potential boost from Build Back Better provisions - hasn't passed yet but sounds like a matter of time - unless the democrats never want to get elected again

[BCdude]

Hey Smiling Dog, The reported backlog is actually 116.2 MW, but considering they had targeted 120 MW by end of Q4, I'd say they're ahead of schedule. Also like the deals signed with Bloomberg and T-Mobile, and the fact their project pipeline has grown so large is a great sign. Let's hope they can ramp up the development and convert a sizable chunk of this backlog into operating

[SmilingDog]

That's true - as of the end of 3Q it was 116MW The 145mw is as of 11/22/21 - as quoted in their slide deck