We're on the Cusp, so says the CHART, page-3

We are well and truly on the cusp as we approach a defining moment and comapny making moment for ECT. The last announcement made it clear that we are approaching this moment and are just awaiting Federal Government clearance formalities. These words make it clear that all 3 parties (ECT, NMDC and NLC) in the tripartite agreement negotiations have actually agreed to terms and are ready to move forward on this project and are just awaiting the green light through these govt clearances. All three parties also believe the government directive for the project requiring government approval for PSU's to seek approval prior to entering into material agreements with foreign agencies does not apply to this tripartite agreement as ECT is not a foreign agency of the likes of the CSIRO or AusTrade which are govt agencies.

Clearly we are close to the finish line on signing this agreement with all parties to move to this final step of all parties agreeing to seek Federal Government confirmation to tick the last box as a precautionary step due to this being a material agreement. Best get government clearance now knowing its full steam ahead when we start moving towards construction then have hold ups later. The move to move ahead with stage 1 which includes finalising engagement terms with EPC partner Thermax as well as appointing new India based Matmor engineering design partners says it all that this is going to be full steam ahead as soon as government clarification is cleared. With all parties believing ECT does not fit into the foreign agency clearance requirements and being a formality suggests this process should happen with a quick turnaround with a green light to finalise tripartite agreements signing.

The statements made by ECT in the last announcement make it clear that we are on the cusp of a game changing and company making deal that will see ECT finally move forward on both techs Coldry and Matmor with 2 multi billion companies. All in a country that is coming out full steam with plans to increase power supply but at the same time say they are looking at and require clean coal technologies as coal is going to be a big part for a long time in India's push to grow and increase power. ECT would have needed NMDC and NLC to agree to the last announcement which made clear statements that we are approaching the signing of agreements pending formality government clearances. The tick tock has never been louder as we approach the big bang.