key partners, page-35

Samwise,
We probably all share your sentiment.

I therefore appreciate that Monash had no mention in the last update to shareholders.

Management has aligned itself and its progress of its program to the ALDP, that alone tells the story more than any Monash update, in my opinion.

Our RFP submission was successful, with it comes secrecy about the DFT and partnering companies developments.
It is as if ESI has ceased to be a public company and strings shareholders along with immaterial Monash announcements whereas the core developments are left in the dark.
I do not wish to defend broken promises, but the recent progress, particularly concerning the DFT got to be included in the RFP and was, up to this point, NOT SHARED with SHAREholders.


We do hold but we do not share obviously.



It all comes down to the belief in the technology and the knowledge that the technology is now part of a governmental subsidies program which comes to fruition before a possible and likely government change this autumn.
Hence it is unimportant whether Tony Abbot would scratch the program or not, assuming anyway that he would be out of his mind to do so as it produces royalties for one of the most hard hit states in the country from lack of resource exports, high currency exchange rates and a manufacturing base in distress.



Management walks a fine line between stringing shareholders along with carrots which mean very little and do not even
target the real progress and government programs, which ultimately changed the landscape of the lignite industry, but make transparency an impossibility as the terms of that program state that a sharing of the progress is only allowed after approval of the committee.


It seems that we did not receive such permission.


The complete alignment with the ALDP has the most likely outcome that we will be successful come June this year in receiving a large chunk of the monies.



Ashley will become CEO in April, so was it then likely to get Monash news prior to his appointment and before the holidays?
It would be an opportunity for him to introduce an active CSI in his first month of appointment, what a way to start the fireworks.

Happy Easter to all holders.