access to coal, page-4

NTaylor

The paragraphs in the announcement of the 3rd June clearly indicate, to me at least, that availability of a coal resource is required for the TinCom deal to go ahead.

I quote

"ECT signed a Heads of Agreement with TinCom in March 2009 for the staged investment in a Special Purpose Vehicle (SPV) to establish a plant for the production of 20M tonnes per annum of Coldry over the next 30 years.

ECT has now received confirmation from Loy Yang Power that it is prepared to commence discussions for an MoU encompassing the provision of coal, services and a site package necessary to enable the project.

Chief Executive Kos Galtos said the company was excited by this major step.

"The confirmation by Loy Yang that it is prepared to work with us is a critical milestone that will allow us to advance the TinCom opportunity." he said."

This demonstrates to me that the TinCom deal seems to hinge on a coal source being available and it seems to me that the preferred supplier is Loy Yang.

Cheers