Lets work backwards. According to the below ann's, stage 1 should be finished in April. That means stages 2/3 funding would need to be done by March at the latest. This funding (assuming the option chosen is to place shares), like the $405k, will breach the 15% and therefore should be voted on at the GM...imo
With 21 days notice + a couple extra needed...and taking into consideration the coming holiday week...time is slipping away for an EGM date and what comes with it.
31 October 2011
"The DFT first phase is expected to cost $1M and to be completed by early Q2 in 2012."
10 January 2012
"The Board of ECT is in the process of reviewing a number of funding options for the delivery of stages two and three of the Design for Tender"
ps...the MoU today may not mean much sp wise for now, but going by recent ann's it's likely a few more will be in place by the time the DFT is completed...there could be some serious binding deal making happening come DFT completion or thereabouts.
The sp has for some weeks been indicating optimism that stages 2/3 funding is looking good....it will be a momentous day for ECT....funding/dilution will be largely done and investors will have something solid to buy/hold on....imo
ESI Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
