I agree with @spider5. Delorean is a defacto, microcap,...

I agree with @spider5. Delorean is a defacto, microcap, engineering company with one project; and the stock is priced accordingly. NSW1 / Brickworks may finally go ahead next year, but it would be with their funding. I suspect the money flowing through DEL relates to YVW payments which will be spent in future quarters on labour and supplies for the project, rather than operating profit (I don't know this for sure. I could be wrong). It's easy to automatically look at the negative possibility, I suppose.

In the almost 3 years since listing, DEL has had no new EPC contract wins (to build sites for others). YVW and Brickworks relate back to early 2021. And the SA1 and VIC1 sites are from pre-IPO and have gone nowhere.

If DEL does find definitive, set-in-stone financing for these two projects (and QLD1), the share price could double immediately. It's not priced in at all. And they have valuable IP and knowledge on how to build AD sites which almost nobody else in Australia has. Huge upside *if* they ever get financing. And the quarterly report with $2.1m of cash for operations is surprisingly good. Much better than I thought was possible.

To be honest, I didn't expect DEL to still be in business in 2024. I wasn't expecting a return from the trading suspension. I thought they would slip into administration late last year. It's a credit to some tenacious work behind the scenes to save the business.

As usual, my problem with DEL is around vague, positive-sounding, Linkedin style statements (puffery) and exaggeration which are designed to mislead.

I remember DEL listing in early 2021 to supposedly fund SA1 (but allegedly use the money, and subsequent cap raise, to complete the over-budget NZ and BLM EPC builds). I remember the surprising decision to appoint/pay Planum Partners to source financing (which took a whole year). Then the "binding agreement toform a multi-project development fundingpartnership" with Palisade Impact. Binding.... Yeah, binding -- subject to Palisade's due diligence process. Which took the best part of yet another year, and was then terminated, leaving investors back at square one and DEL's reputation being tarnished in the eyes of future potential financial investors.

My point is, I remember similar wording on the Palisade Impact announcement as DEL (presumably Hamish) now promises regarding a new finance partner.



"I read the 4c as they have received a number of offers and are finalising selection."

Nope. I can say almost with certainty there is no shortlist of candidates that DEL is meticulously evaluating to choose the best option. A bride might say she's *chosen* her husband. You might *choose* to drive your 2022 Toyota from your driveway to work -- because it's the car you decided to buy. DEL might (would certainly) *choose* to accept any offer of financing given to it. It's not a true A or B or C *choice*, like buying a pie rather than a pasty at the footy is. If DEL is offered a financing deal they'll take it. The fact no deal has been done suggests to me that none has been offered. Not that DEL is swamped with offers and trying to choose the best one!

I remember too when the labels for the green icons on the pipeline map were quietly changed from "completed projects" to "constructed projects". No difference, maybe? Well, 'completed' projects are finished and signed-off. If they are only 'constructed', they've been built, but DEL is still putting money into them each quarter.

Trying to read too much into Hamish's semantics can be a costly lesson.

I would love to see SA1 and VIC1 getting underway. Good luck to all new holders. I hope your investment works out for you.