Ann: AGM Results, Chairmans Address, Operations U, page-11

re: Ann: AGM Results, Chairmans Address, Oper...
Excellent feedback, Acees. You have added the key details that are not in the displayed presentation. It is getting the additional nuances of meaning from the spoken words at meetings that fills in many gaps in our perceptions.

The no fund raising in 2010 pleases me immensely. It is a real relief, in fact. I have had some trepidations about the likelihood of such at present low prices. But if no fundraising with what will they match the LEED grant?

No due diligence? I presume this means no site visits. There were 61 applicants and site visits could appear to present potentially compromising situations. All the evidence, references, and referees should have been clearly documented in the application. There are standard ways of doing this. Wish I could inspect CWE's submission.

It important to recognise that EDF is a licensee and that CWE has to provide the final fully tested and working product, CETO III. The only way CWE is going to field test its final models is with the Garden Is project. It is in their backyard and they have a 'free' $12.5M purse to do it. Hence I can't really see them passing up the Garden Is project. For political purposes they may posture and mumble about leaving Australia all together but we understand the necessary verbal dancing.

We won't see any photos of the BA? Why are these so secret? There doesn't seem to be much that is so critical in the shape of the buoy, and the detail of the pump is in the enclosed housing anyway. Does that mean the very detailed diagram in the AGM presentation has been deliberately distorted to mislead? I note that the actual dimensions have been deliberately removed but can be readily interpolated. (I’ve just done that.) One of CETO’s problems may be that it is so simple in principle that there isn’t much that can be patented. The advantage can become a disadvantage.

Was there any discussion on how much CETO III actually differs from CETO II? Is it just a scale up?

Were there any questions asked as to what CWE thought may have been the reason for lack of success with REDP? (This is normally the kind of question one asks privately after the meeting.)

Please keep remembering and jotting further, Acees.

Juke