Spot on John, I have been a supporter of this company, but also called for more accountability. Anyone want to add to the below table? I think we need a "Marketwatch" type approach on this (maybe something the ASX should do with all companies when timelines are given).
As John has noted (and others previously), it is not hard to set dates and stick to them. Makes one wonder: if people are not able to stick to simple timeframes (that they have set themselves) on simple statements such as " willbe the subject of a further announcement over the coming days" (I have been generous in the table below), then it begs the major question on their ability to achieve on things that are actually difficult and out of their entire control.
I think this might help for ECT to follow through on their word, and help to provide the basis for people to believe in the culture of transparency and integrity that you have noted in many of your communications.
| Item | Date raised | Start | End | Status | Announcement | days late | % overbudget (time) |
|---|
| 1 | Cashflow positive | 4/09/2019 | 4/09/2019 | 3/09/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 2 | Char off-take agreement, project planning &des, financing | 4/09/2019 | 4/09/2019 | 30/09/2019 | | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 3 | Production Capacity - 25000 tonnes per annum | 4/09/2019 | 4/09/2019 | 30/06/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 4 | Sales and revenue - 5000t/$1M Steam and Boiler | 4/09/2019 | 4/09/2019 | 3/09/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 5 | Sales and revenue - 10000t/$1M Char | 4/09/2019 | 4/09/2019 | 3/09/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 6 | Sales and revenue - 5000t/$1M Syngas | 4/09/2019 | 4/09/2019 | 3/09/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 7 | Upgrade char plant, feedstock & prep | 4/09/2019 | 1/10/2019 | 31/12/2019 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 8 | Upgrade - Boiler, packed bed dryer | 4/09/2019 | 1/11/2019 | 31/01/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 9 | Upgrade - Pug Mill, Extruder, Conditioning Belt | 4/09/2019 | 1/12/2019 | 29/02/2020 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 10 | Automation | 4/09/2019 | 1/02/2020 | 31/03/2020 | | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 11 | Commissioning | 4/09/2019 | 1/03/2020 | 31/05/2020 | | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 12 | Full production | 4/09/2019 | 1/06/2020 | 30/06/2020 | | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 13 | Update - "A market analysis, covering steam fuel, char and syngas markets will
be the subject of a further announcement over the coming days" | 4/09/2019 | 4/09/2019 | 11/09/2019 | Late | Targeting Positive Cash-Flow Inside 12 months | 5.00 | 71% |
|---|
| 14 | Update on financing for upgrades, inlcuding estimate of financing mix and costs | 4/09/2019 | 4/09/2019 | 30/09/2019 | In Progress | Targeting Positive Cash-Flow Inside 12 months | | 0% |
|---|
| 15 | Expenses reduction - Board & exec 50% reduction | 11/09/2019 | 11/09/2019 | 11/03/2020 | In Progress | Shareholder Update – Board Structure & Executive Remuneration | | 0% |
|---|
What else is outstanding that the company has set targets for, promised updates for etc. Please provide reference that items are from. I am happy for examples of good and bad, but time to get a scorecard going... a couple of months to build it up and then discuss at the AGM perhaps.
In a well performing team, things that get focused on, get done.
