Yes, one only has to read this ann to see the company has done nothing wrong at all, in fact everything right.
Keeping IP on Coldry/Matmor
Gained 2 valuable partners who will combine finances to construct Coldry and Matmor plants.
Reviewed Capital management plans, (I believe this to be the "transaction")
Quote:
in recent days investors in the existing ‘FAST Finance’ facility took up the option to convert the debt obligation of ~$1.5M into fully paid ordinary shares, which along with the recently received ATO refund of $1.1M, now places the company in a significantly improved net asset position, leaving only $300,000 of secured debt, which expires in late April 2016.
We now begin the process as per ann quote:
- Detailed Integrated Techno-Economic Feasibility Study (parallel activity to 2 & 3)
- Coldry Demonstration Plant development
- Matmor Pilot Plant development
Successful progression through the activities will lead to a series of subsequent steps under the framework:
- Commercial structure agreements
- Financial Close
- Project construction
- Coldry
- Matmor
- Commissioning
- Validation & optimisation activities
- Operations
- Expansion
I still believe there will be no figures (that every body wants NOW) regarding how much NMDC & NLC put in at this stage of the game.
That will come after the Detailed Integrated Techno-Economic Feasibility Study, obviously.
But the one very good thing is ECT will continue to own 100% IP which will be licensed into the project.
This point could also be interpreted in the word "transaction". IMO
As far as Im concerned, Im not concerned at all.
Im actually thrilled and excited by the position ECT management has put our little Aussie battler company in the big league of global status.
Well done!
Keep up the good work!
