Ann: FBR and Brickworks form joint venture, page-216

There is absolutely no risk and yet all the reward for brickworks on the deal. If FBR gets a customer, however unlikely the prospect, brickworks get to supply the bricks AND PROBABLY ALSO get half of the profit. As for FBR, the joint venture entails scarcely anything beneficial moving forward. The only benefit is that FBR has someone to buy bricks from and that is it. The technology remains an enigma as ever and its commercial viability remain deeply in doubt. In my view, there is absolutely zero reason why the SP would rise on the announcement.

My best guess for the future is that FBR will keep burning cash and they would need to do a CR soon enough. To what end? As far as I am concern the technology and the design is fatally flawed from the beginning as well as the business model. That means, as far as I can see, there is never going to be a customer for it, ever.

I would be proven right in time.