A Man that owns and runs a 70 Million tonne Bentonite Mine. A Man that has set up a Regional Bank.
I talked to Lloyd -He appears very approachable. At the previous AGM He stood as a Share holder and stated He was Very unhappy with the excessive Renumeration of Specialist Advisors.
I meet Lloyd at the AGM and thanked Him for becoming a Director. That it had given Me confidence that He had come onto the Board. After this AGM He explained that He had been approached to be an ECT Director a few times. That He was concerned about the Financial Workings of ECT.
Lloyd stated that ECT was a LONG TERM investment.
Ashley spent a few minutes on the future possibilities of The Matmore Product. Questions were asked about Matmore.... I think that product is years away from the Intellectual Property rights being bought from the Calleja brothers and then running a 6,000 tonne a year pilot plant to getting it running as a Commercial plant... In My opinion that's 2016+
A few share holders asked about the water recovered from The Coldry process. Ashley Replied that ARUP designs did not involve water recovery. That implementing water recovery would require further designs and expenditure.
Asked whether Coldry plant modules might be manufactured in India and shipped to The Loy Yang site. Ashley stated that That was a distinct possibility.
Asked whether Ignite had been in discussion with ECT over a Joint Venture. Ashley stated some discussions had occurred - but declined to discuss further - siting ALDP privacy criteria.
Ashley had his parents there. I chatted to them briefly. They are Share holders as well. That is kinda cute and confidence building.
Multiple books and folders incorporating The ARUP designs for the Coldry plants were available for viewing and discussion. The Designs are extensive!! No copies or photos were allowed to be taken for Intellectual Property reasons.
The Open grill Hot air beds and the Hot fans are unusual... Unlike normal fans..
As a lasting impression- The AGM felt like a Duck on a pond. The Duck looks calm- but it's little webbed feet are pumping away furiously.
The definite tone of the EGM was to complete the Business and finish the meeting.
ESI Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
