"$188,000 was received as an R&D rebate for the 2009/10 tax year and $364,000 was received this month for the 2010/11 tax year."
"ECT intends to demonstrate the economics of commercial scale Coldry production in Victoria by building and operating a single module (150,000 to 200,000 tpa) commercial scale production facility. ECT is advised that the relevant coal industry “test” for commercial scale production is of this order (often expressed as 500 tonnes per day)"
Previously, we were given the impression that scale up would be a significant hurdle...doesnt seem the case at all to me now. Sounds like construction will kick off with or without the need for Tincom's $3-400 mill....$50-60 mill will be enough prove Coldry's commercial credentials.
Nov 30 2011
"Also K-Coal are working with potential Korean off-takers to develop interest in investing in a single module production plant built for the purposes of proving Coldry economics at what the industry regards as a commercial scale."
Today
"ECT and its potential Australian co-investors wish to attract globally recognised resource companies and globally significant thermal coal consumers as investors in this project."
Likely K-Coal are in the mix here, having already signalled their interest.
"results of Phase 1 are expected to be available in April 2012. Phase 2 will be initiated immediately on completion of Phase 1"
Indicates an EGM date is close - they will need funding approved in March at the latest.
The fact that ECT came out with all the $50-60 mill figures bodes well to me. If they were having problems raising the DFT stage 2/3 cash - then its VERY unlikely we would be reading of these apparent "grandiose" near term plans.
ESI Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
