re: Ann: Shareholder Update - Coldry Design f...
"Next steps....Commence required project approvals works (mainly Local Government & State Government) "
The above sounds linked to the below:
"Mr Buckley said his confidence in the continued value of brown coal was supported by the progress of up to three significant coal-related initiatives where companies were currently "doing preliminary work around planning applications", though further details were not yet "publicly available" .
"Following these steps, we expect to be in a position to finalise the design and move towards the construction phase of the project, which includes finalising funding , signing construction agreements and commencing site works. While the timeline has many elements, we aim to begin the construction phase in Q4 this year.
Initial cost estimation has commenced internally in collaboration with Arup & construction partner McConnell Dowell. "
Nice to see these coys mentioned - especially MacDow - indicates solid progress is happening. As some have mentioned - "finalising funding" is key.
Anyone else surprised at todays trading?...going on the ESI history, I would have thought todays ann would be met with a yawwwn.
IMO a near completed DFT/construction timetable is almost useless UNLESS firm/convincing $$ is committed prior to mid-June (unless ECT are reaaal desperate and go the "conditional on ALDP funding" route - doubt it).
Highest volume since May 3 2012. Something tells me the buying is based on more than todays DFT update. There was actually not much new ann'ed today - imo it was more about confirming/expanding on past anns linking the CDP to the ALDP. The construction timetable has always said later this year.
Who ever was buying today knew what they were doing. Sure the sellers are there as usual in a stale bull situation like this imo.
My guess is "longer-term funding" Monash $$ commitment (or another CSI if you reckon so) is now lurking close by...hence the LARGE predominance of 2-5m single buy bids today.
It was unusual (even going by past P&D's) - nearly ALL bids were as above. Around 2pm there was a single 1.8m bid at 1.1...then a clean 5m appeared behind him. The 5m stayed 10 mins then dissappeared. I got the impression big $$ is moving in and we are in accumulation stage.
Maybe the buyers sense Monash $$...?
Until we get reaaal firm/solid/believable/credible $$$ commitments - the sp will go no-where imo (unless its a P&D)...DFT etc wont help the sp.
ESI/ECT's LT track record of delivering is shocking (unfortunately the current ECT team via Monash tardiness are tarred with the same brush - undeservedly imo)
There is only ONE remedy serious investors will accept:
Show us the $$$$$$ - and the rest will take care of itself.
http://www.youtube.com/watch?v=OaiSHcHM0PA
Feb 4
"A further update on the status of the DFT will be released in coming weeks..."
tick tock...DFT update delivered on time....now whats next?
“We appreciate the patience of our shareholders as we work with Monash Capital on our longer-term funding to ensure the best interests of both parties are accommodated...
Status of Monash Capital Share Placement Settlement The ‘Monash Capital’ funding program approved under Resolution 6 at the Annual General Meeting on 29 November 2012 is progressing. The Company will make a further announcement as outcomes are reached... "
As of Feb 4 Monash were very firmly in the picture.
It would have been easy to not include Res 6...just let it slide out the back door... unless it was still firmly in play? Feb 4 ann was all about buying time until Monash can deliver. I reckon AGM curve ball ann was similar.
Maybe I'm wrong and after Feb 28 there will be a white knight come to rescue ECT from the big bad Monash villain....doubt it. I expect/hope Monash deliver asap - will it be pre Mar 19?...no idea, but Monash are here to stay imo.
Either way imo - a Coldry demo will receive significant ALDP funding and be built (toooo many "co incidences")....which means its only a matter of time until the line wiping begins imo. Some here saw the line wiping from 1.6c to 11.5c in 3 weeks 2009 on the miniscule Tincom/$1m IP ann's - and the dilution is not hugely different to now. IF/when genuine demo funding becomes believable to industry players...we will see it in the sp action. Todays action fits in - but its just one day.
Feb 19 - Mar 19....going to be an interesting month!
ps......"I would say that most shares issued at 0.9 cent would have now made it into the market".....Surges - at a minimum - 13.5m of the 55m were not dumped and found a LT home...
tick tock...
ESI Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
(20min delay)