Ann: Director Appointment/Resignation , page-38

When Ashley became MD I thought that was bullish. Captain of the Titanic...? He had a large measure of confidence.

Is Foz now Vice Captain of the Titanic...?

IMO...Blind Freddie could see ECT had an ALDP offer before the BCIA seminar...Ashley sat down for the bullish interview straight after it...seriously - why would he do that IF either Monash or ALDP was not locked in. Generally - from a psychology aspect, given ECT's scenario at that time - imo its highly unlikely that interview would have taken place unless ALDP and/or Monash was in the bag.

And...hey presto... shortly after - the India stuff flowed and the ARUP bond $1.4m appeared (Govt ann they are about to talk to ~100 mining giants - co-incidence...?)....meanwhile ECT make grandiose "construction ready end Aug" ASX ann's.

Arup (maybe they might keep some shares LT since they know the potential better than us? - but hey they are a business and have costs to cover FIRST) are not a charity and their invoices largely MUST be paid prior to resuming work. So HOW can ECT be construction ready end Aug WITHOUT actually paying Arup $ for their work upfront...?

Well - they cant. Its not like Arup will wait for an "IOU" and wait for a GM. The $ must come from somewhere shortly, and the present churn imo is just a side show.

Foz has a degree in Psychology...I reckon he would largely agree with me regarding the above.
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Foz coming on is very positive. Unless he is certain of ALDP - I doubt he would do this NOW. If ALDP is not in the bag - I would expect him to wait for the resulting sp carnage...THEN come on as director with the India (GW - Castellas etc are the India route to market) Lazarus scenario.

That has not happened.

I reckon the ALDP and India demos will both happen in the same ~ time frame. India leading the construction show. I would guess the Oz Govts would view an India demo being built in tandem say 3-6 mths ahead of LY as VERY enticing...de-risking. Vastly reducing the risk of a potentially politically embarrassing white elephant in Vic.

Imagine that - the ECT India Arup folks could identify the potential flaws BEFORE the LV demo implements the same flaw. India can iron out all the flaws CHEAPER before it hits Vic...nice.
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Imrichbitch...re your post above:

"I see he's appointment as a bonus and I am sure he will ensure money expenditure and capital raising if required will be highly scrutinised."
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Exactly Imrichbitch - you would "hope" that - starting with the ~$1.5m R&D available now. Its VERY encouraging to see the buyers stepping up. However - its truly vomit material that the ARUP bond/wcap "could" be done at these levels.

Have a look at the buyers continually stumping up in the face of relentless selling of the Arup bond. What the...???? Who does that...? It aint churn because Arup are being PAID $ as invoices are lodged.

IMO its genuine buyers soaking them up KNOWING ALDP at a minimum is good. Fact is - the massive buyers ~0.8c CAN'T sell this volume at a profit unless ALDP is good.

It will be interesting to see the Director statement as to what Foz holds. Carter/Davies hold zero. Ashley a few and Iain heaps.

Our Big 4 R&D research is unquestionably sound. Fact is ECT can utilise ~$1.5m right now. Folks - do the figures - R&D $1.5m... it could cut the dilution by half (assuming ~$3m pre-Aug spend) - say ~200m shares...!

We expect this R&D $ to be utilised asap - its very obvious to us ECT have the $$ "allocated" to fund the Arup "end Aug construction ready" scenario. Arup did their DD. There is a HUGE issue of shares coming shortly - but from where and at what price?

But is the available now R&D part of the funding? With Foz now a director - future raisings through GW are vastly more complicated...how does he remain at "arms length"...? Maybe they are no longer needed since he is Monashs rep and Monash is about to come good? If that's the case - why the Arup bond?

Foz - being the dilution "saviour" on recent occasions - we expect him to step up to the plate here and utilise the R&D pronto to minimise dilution at these horrendous levels. We will be vastly more curious if this recent -> end Aug dilution is done without R&D as part of the funding.

The odds greatly improved yesterday that ECT will build plants in both Vic and India...imo.

tick tock...