onshore test results, page-16

It appears, just as we were discussing earlier, CWE are not at all watching the calendar clock. They are proceeding with their 'normal' work program and doing that very well. They have designed and completed a new mechatronic control system. Was this a late decision and another cause of the deployment delays? The delicate question remains as to whether they are over engineering their first fullscale test model of CETO. However, to be able to remotely vary and control your underwater parameters via telemetry from the lab would sound really great to any researcher. We should now also be able to monitor CETO motion effects on the Moon if market demand requires deployment there. I am just mulling over how much such a high degree of sophistication is necessary. It is excellent if you can achieve it quickly and if it helps to understand and bring your product to market rapidly. Note though, that if they wanted to instrument up one BA in every CETO wave farm on Earth in the future, so as to keep real time control from West Perth, this is the way to do it.

The fact that no time frame for actual mobilisation was given implies a bit of pep talk to shareholders to be patient and that it will take some days yet.

Why did you expect an enthusiasm in share price, Primo? Surely it is clear enough that there will be no dramatic effects until we see the thing in the water. Even then the response will be subdued and disappointing because people, previously lurking to take up shares, are largely now looking elsewhere. Should we expect the market to keep responding to cries of 'wolf' on delayed time schedules?

Juke