"Yesterday ECT made significant progress towards their goal by signing off on a joint venture with Vietnamese Giant Tincom, for the construction of the Victoria Coldry Project . Under the agreement Tincom will provide ECT with 1.5m in 2 instalments and deliver coal supply agreements to the joint venture to secure debt in the future. The significance of this joint venture can not be underestimated, ECT has secured a world class partner and the necessary funds to start construction of the Victoria Coldry Project. With a carbon tax looming over Australian coal users and the ever increasing pressure on governments around the world to reduce their emissions ECT looks to have a bright future".
Great find :-)
L
ESI Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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