Ann: Commencement of Trading on ASX and Company Update, page-64

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09/03/16

16:43

Post #: 17230106
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Originally posted by Chilloutman ↑

Hi Katy

At the last AGM November 29 2015 (see my post 1/12/15), I brought up the issue of government funding and specifically asked if the company was going to apply for funding from ARENA. The answer was (IMO) a vague yes and that there would be a role within the relisted POW for someone to prepare these submissions. Given there was what a I perceived to be a vague response to this question. I pushed further even asking if the board was concerned about any loss of commercial privilege that might result from having an application accepted (I was thinking that this may be a reason for their lack of any previous action on this). I clearly recalled there wasn't any such worry and received a further vague reply that they thought that ARENA 'wasn't that interested in this project'. I made a note of this. But really ARENA is a government agency with clear funding policies and guidelines. I've read them all and can't see how they could refuse a formal application from POW. So, given that hundreds of millions of dollars in funding is available for renewable energy companies in Australia, at project development or commercialisation stages, it's baffling to try to make sense of why a formal written application hasn't already been submitted in the suspension period, with a follow up phone call to the PM"s office, and an announcement to the market at relisting? I just can't understand why a company wouldn't try really hard to get millions of dollars that is there waiting and needing to be allocated to Australian renewable energy juniors.

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I can also confirm the position. When I raised ARENA etc at last yr's info meet in Melb, they were clearly aware of the possibility, but full of reasons why other things have priority, so the net result then was alsop a vague 'yes'...Pt

POW Price at posting: 1.8¢ Sentiment: Buy Disclosure: Held
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