ECT (ASX) A G M

Originally posted by scatterpult ↑

Stalk tocks Its hard to get your name right but i try. What i wass saying was not for you completly. I included you but some of it was for other posters too.
Not you but others say to ignore people who arent backing up the all positivity rampers. They are ramping positivty more than the price so new readers only see positive discussion. Some of it is complete trash like saying the deal is basicly done only the i needs to be dotted. Any thougtful investor like you say you want to attract would know that if a minister becomes involved again then red tape starts.
I copy anoncements to Word and they get read to me so it is easier for me. I do the same for your wordy comments and other people who want to say a lot. The small stuff I can understand and most of it is throw away spiteful comments any way.
So i get all the infomation but when I write i sometimes can be difficult for me to put evrything in to words. Before i say the next bit i want to say that i have the oppinoin the ECT REP comes on here often and reads peoples understanding of the company and this program in india. So they know if people need to be corrected when they say the wrong thing or some thing that is the wrong infomation to what the company says. A lot of these people are the positive people who ramp positivty.
I havent worked out why the REP refuses to set them straight and say that they are mis informing the rest of the forum.

Now next part of what i want to say is i do now these things in the yesterday anoncment are more catastropic surprises than pleasing surprises.
Such as this.
Evryone has been saying and agreeing as a mob and encoraging eachother as a mob over and over that ECT is free carried in the building of the demo plant. This is not a fact like the company said yesterday. They have costs in building the demo plant for coldry only. Not matmor just coldry. Why no infomation about matmor of Glen said it is the companys comercial reason for doing this with the two indian companys? Thats not positive.
I thought you of all people might want to discuss that outcome and nothing can make it positive no matter how much you want people to stay positive. That is a ball. Please play it. It is part of the game so i would be surprised that large share holders will not encourage discussion about it before the AGgm.

The exact bond that ECT will pay is sunject to one of two higher amounts and it is sitll not known what those terms are.

Infomation that is needed to value the company is not released and it was told to be coming by Glen a couple of weeks ago.

A few things that are needed to be known before the AGM are still not avalable to the market. How can they vote properly without infomation on how ECT is going to be valued and how can anyone recomend the company to stock brokers without knowing a value model?
There fore share holders are locked out of assisting with genrating good publicity and PR.

Equity and profits are written in relation to ECT but the company doing bussiness in india by rule of Indias goverment policy is supposed to be ECT India, not ECT. I did not get the understanding of why. And a poster could only high-light what was written in the anoncment when i am thinking for myself because like my icon says 'Believe only half of what you see & nothing that you hear' ~ EAPoe. Be skeptical without proof.
In my oppinoin an annoncment is not proof of an outcome it is just proof of its own existance. Substence and results is needed for proof to exist and for trust to follow. All we have so far is extention after extention and new goal post.

People sp3 and chaya himslef speak as though they are big share holders who know what to expect every turn. So if the annoncement tricks them then what chance have any other people got at getting the market right? This annoncement was a surprise in that way to. Obviusly chaya has talked to glen or some one from the company and knows the key person was sick so i think he would get step by step updates all the time. How can we follow things if he cant?

What are parties presenting to Ministry Of Steel? And why? Checking that the agreement is good for india or that the boxes have been ticked properly or checking that it is in in acordence with rules or what? I could give more possibillitys of what they are being presented to and for.
For a blessing for the ministry to inspect it and give out a robe and deserts in a finalizing ceremony?
Once NMDC have formalised their approval to sign the RCA, ECT, NLCIL and NMDC are expected to presenta project briefing to key Indian government stakeholders including Ministry of Coal and Ministry of Steelofficials. This briefing process is aimed at bringing all stakeholders up to date with the project and is anecessary process to facilitate preparation and co-ordination of the signing ceremony and subsequentexecution of administrative requirements through to ‘financial close’.
So there are lots of stages left to go. If each stage takes a month then that's very bad for confidence which is catastropic to trust.

The parties previously anticipated clearing board approvals and hold the signing ceremony before the endof November, however based on feedback from NLCIL and NMDC the signing ceremony will now occurafter the end of November, at a date to be confirmed. An extension to the project agreement (MOU) waspreviously executed (see announcement 15 August 2018) to allow time for the parties to complete theirprocesses. A further extension is being arranged to ensure the project agreement remains on-foot in thelead up to the RCA signing ceremony.Further updates on timing of the above activities will be provided as details are confirmed.

More questions have are opened because of this and some old wounds are re opened for long term holders of 5 or more years. Im not impressed any way and I have been looking for closure before investing because it was all a realy good idea when i was told about it and evryone said it was basicly a signed deal already.

The annoncment opens more questions and it dont shut many.

One of the surprises for me is that weeks ago the company ECT spread tons of confidence that evrything will be ready and finalized and singed before the AGM. But what exacly will be ready? And will it offer a method to value the company? Will it allow people to vote with confidence for or against the people who run the company? Or will evryone still be in the dark and have to rely on trust again for another year? Not nowing this is a catastrope to me and i predicted it weeks ago.

Evry one has there own take on how good the 49% 51% split is and its terms. I dont like some of them but mostly i dont like that Ect are making next to nothing off the iP in australia so what diffrence does it make if ECT get to keep all of the revenue from australias bussiness? Why include that in the terms with India at all? It was thrown in to make things feel good for readers of a bad annoncment id say.

The PCC is dominated by India companies so ECT get down voted if they chose to down vote them. Like how large share holders control companys this will be the same.

ECT contribution of 49% of operating expenditure, and Establishment of a project bond. Great. Thats new and was a meterial thing that share holders could have known before now in my oppinoin.

The changes have been made in light of the final review process and the identification of risk mitigationmechanisms should project overruns occur or should ECT ‘walk away’ from the project during construction.
This is the exact reason that i see this whole ECT INdia NLC NMDC agreement more as an arrangment. It seems nothing ties anyone in and things can change along the way with a panalty. What else would make ECT INdia walk away from the construction phase apart from a new arrangment or a chnage of heart or a change of some kind?

Thank you for reading Stalk stock even if it is hard to read. I apreciate your intrest in my oppinion and i do not hold any thing against you for wanting to get people talking because it is good to do that before the AGM not that the AGM matters to me because it doesnt look like Ill be a share holder by then because evrything is garanteed to drag out now into the next couple of months in my oppinion.

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Geezus scatters - now you have me targeted as talking to Glen and getting inside information - it took me 5 minutes to stop laughing. Mate I've been too busy talking to the Pope and Elvis Presley so Glen has missed out LOL
How about you lot taking a few chill pills and take a lay down and have a sleepy before your Mum gets angry - truly you are all letting this do your heads in fella's - give it a break.

For your information scatters - I wouldn't know the Foz if I tripped over him LOL.

(20min delay)
Last 0.2¢		Change -0.001(20.0%)		Mkt cap ! $6.343M

Open	High	Low	Value	Volume
0.2¢	0.2¢	0.2¢	$4	2.168K

No.	Vol.	Price($)
63	31082738	0.002
25	35001033	0.001
0	0	0.000
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.003	9386901	26
0.004	6422109	12
0.005	3676859	23
0.006	4988567	8
0.007	918333	2

A G M, page-70

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A G M, page-70

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