Well they held the AGM today, and to me there was little new...

Well they held the AGM today, and to me there was little new information released. Interesting points to note:

Regarding their already well publicised mention of their Jatropha contract, they went on to say ... This represents the first of several exciting Jatropha opportunities which the Company is pursuing.

They also stated ... In addition, the new Rudd government in Australia has committed to ratifying the kyoto Protocol and as such, we now look forward to significant support for biofuels both from federal and state governments.


The more important points are regarding the startup of the Plants. For the first half of 2008 they will only be processing Glycerine, so the "Production Ready" dates for these are:

Train 1: December 2007
Train 2: January 2008
Train 3: February 2008

For Biodiesel production itself, they have stated they will be running one plant at a reduced rate in the second half of 2008

They expect feedstock prices to come back down to a level at which they can make a profit from Biodiesel in 2009


One good point was the latest Refined Gylcerine price was $1590/mt, and it looks as though this price is steadily rising. We could see very good returns from the Glycerine refining abilities of these plants.