Kel/The Avenger2...thought I would expand on some of your comments....
http://www.ectltd.com.au/coldry/coldry-overview/
"Based on research initially conducted by CRA and University of Melbourne in the early 1980's, the technology - Coldry"
"In 1988 he was approached by CRA Ltd, now Rio Tinto Ltd, to take a major role in technology development for that company. Many of the company's industrial technology successes are a result of Prof Batterham's work."
Kel...Prof Robin has been linked to Coldry from the VERY early stages.
"He has also recently been elected to World Chemical Engineering Council, a position acknowledging that he is one of the top ten chemical engineers in the World."
Both Ashley/Robin are Chem Engineers from Melb Uni. Great "chemistry". Does anyone seriously believe Robin would be associating himself with a "dog" like Coldry in a public forum like BCIA if he didn't see serious commercial prospects...?
People like Robin don't chase the $$ - he is a career academic...it seems he truly believes Coldry's time to shine has finally come. Those opposition folks whom have longggg stated Coldry is a 25 yr old "has been dog tech" may soon eat their words.
"He discussed that Mild Hydro Thermal processing(eg Exergen) increased the temperature and can give some nasty side effect products in the Well. As in Heating Up Aquifiers."
Some here have voiced concern in the past wrt the 1km deep Exergen autoclave in potentially earthquake prone turf. I wonder what the greens would conjure up IF Exergen got legs. I see CHTD as a bit like "fracking" CSG in that it could provoke all sorts of public reactions re the unknown. Fact is - HOW will the CHTD effects on aquifiers etc be known until the 1km demo is actually built...?
Have Exergen built an autoclave 1km deep? No - its all model stuff. As an investor - I would prefer Coldry tin sheds on level ground. It will be interesting how the late June prospectus and July CAG listing are viewed by the public/greens/investors. Are Govts willing to take the risk in backing Exergen...?
The Ambrian $100m raising ...it clearly failed (what does that mean for the famous timetable "flyer" info?) - what happened? Maybe the folks looking to invest said - "you guys are backed by Tata, Theiss, Itochu and Sedgman etc - WHY are you not getting all the $$ from Tata etc...why are the Elf etc not backing this tech if it is commercial?"
Apparently - each Exergen s/holder originally paid $10m for 5%...therefore giving a m/cap of $200m
If that is the case - How does Exergen qualify for ALDP....? Exergen can clearly fund a demo themselves.
Interesting Exergen are sited at Morwell...why couldnt director Dr Brockway (advisory position on AGL Energy and Emerging Technology Advisory Committee) swing it so Exergen are in main game AGL?
"When the DFT is completed, ECT will have the necessary engineering data for development of a Guaranteed Maximum Price (GMP) contract for construction of the project. The GMP together with a Coldry off-take Sales Agreement, will underpin project financing activities for the construction of the proposed 2 million tonne per annum Coldry production plant at Loy Yang."
"The Coldry product is: Process Gauranteed. Capex is known. Opex is known. The Product Quality is Known. Giving ECT a Bankable Gaurantee to Investors.
Next few months will see a Tender programme for Construction."
"a) ECT superior in design DFT and hence ready for CDP earlier than others...Adam also indicated the MOU with AGL is well and truly still current...
- ARUP engineers (global organisation with three REPS present at the meeting - DFT ready for Tender (Construction) - McConnell Dowell and JC Steele - Construction partners - MOU with AGL - Site selection plans underway - Well advanced in Design and Implementation Plans in place - Partnered with GHD - K-coal off-take"
Kel/T/A2...your comments above highlight the longgg held MAJOR objective of Coldry....DFT ----> GMP.
DFT ----> GMP...its now done via ARUP (why were there 3 Arup engineers at the BCIA seminar...?)
"Spoke with one of the lignite people and they indicated there was the possibility down track for a JV with ECT on using their coal processes for downstream coal moisture reduction."
"one of the lignite people"...I assume you mean Ignite Energy ppl...?
Ignite are clear front runners. I reckon Coldry would be more so too IF we had $20m in the bank.
Click on the diagram...clearly Ignite's business will benefit from a more economical drying solution. Flash drying is probably the current solution. What have ECT said in the recent past wrt this potential in the ALDP criteria/Pilbara...?:
"Technologies such as coal gasification and the production of synthetic diesel, chars, tar and chemicals from brown coal will be encouraged as they add the greatest value to the resource. Generally, these secondary or tertiary process technologies cannot efficiently or economically process high-moisture raw brown coal directly and ECT sees enormous potential in providing Coldry as a feedstock to these industries...."
Coldry (let alone Matmor Madness) is a no-brainer for "low cost - near zero emission" BCE export....but clearly we see it is possible/likely Ignite/Coldry etc etc could get together.
While on that link...the below was stated. Lets see how ECT are travelling...have they met their objectives so far?
Nov 2012 Chairmans address:
"The Year Ahead
During the 2012/13-year, we are committed to:
•Completion of Phases 2 and 3 of the Design For Tender Program.
•Development and submission of a solid application for government funding assistance under the Advanced Lignite Demonstration Program (ALDP).
•Complete all of the pre-construction work required to proceed with construction of the Coldry Commercial Demonstration Plant such that building works can commence immediately after the awarding of ALDP funding in the second half of 2013.
•Assembling a consortium of companies, each with a lignite value-adding technology, to successfully tender for large coal allocations within the Latrobe Valley."
I would say YES - especially given the comments from the BCIA seminar (ps...why wasn't the seminar ever listed on the ECT website "Event Calendar" - usually we get a preso run down ann...lol).
ECT are delivering and are on track. The current Board bit the bullet and kicked the Arup DFT off Oct 2011 in the midst of the Euro crisis...gutsy move.
We reckon the quality of the ECT Board/Management/Consultants (inc Prof Batterham, Arup, MacDow, GHD etc), completed DFT/GMP milestones and the sheer economics of the Coldry tech will get us an ALDP opportunity.
We all know the weak link is the private funding aspect...look at the sp. It will be interesting to see IF Coldry gets the ALDP nod, especially since we are $$ starved via continual Monash non delivery of ASX ann'ed promises.
Our view is - if the Govt want Coldry/Matmor bad enough given the above - they will grant ECT $$$ and the private $$ will arrive as needed by others if Monash run out of run way. Soon see.
tick tock...
ESI Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
(20min delay)