Ann: India Project Proceeds to Next Stage, page-170

I know that no matter what I post here, there will be others who disagree with what I have to say ....simply because they are at a differing end of the spectrum of belief. But for me I do believe in this technology and have done so for over ten years. I also believe in our current Directors and have met them all personally, I have also been to Bacchus Marsh and toured the plant and have also taken the time to read the history of the inventor David Wilson of the Coldry/matmor process, who sadly passed away January 2013.

David came from a steel manufacturing background and naturally explored potential synergies between lignite and the iron and steel industries. I want to honour him by sharing a little of his story, to thank him as I don believe that my family will benefit from his vision and for-sight. It has taken decades to get to this point.

David realised that to reach the goal of using brown coal in any form of iron oxide reduction, he’d need to develop a commercially and technically scalable pelletisation and drying process. Even with the ability to dry brown coal, it still wouldn’t be suitable for use in a traditional blast furnace, or an electric arc furnace: he needed a new furnace that could accomodate the volatile nature of brown coal

David was a talented engineer and steel maker and in the late 1990’s had identified the basic furnace design that would harness brown coal to reduce iron oxides. That invention and innovation produced something no one had achieved before...lignite-based iron oxide reduction.

Today as a result of David’s hard work and vision, we have the opportunity to partner in one of the greatest innovative industrial steel evolutions and I am excited to know, not only are we partnered with a growth nation, but that we have the biggest and most successful steel and energy companies offering us the opportunity to commercialise and profit from their resources and global expertise, something that in David’s time, was only a dream.

I am totally behind this company and I will do what ever I can to support their efforts and I certainly will not be one of those who want to attack, put down or undermine the efforts of our management ...yes this has taken a long time to get where we are and we still have a long way to go...but I do believe we will get there.

Some five years ago at an AGM I attended, investors were furious and angry and many of them had lost all hope they had just been informed that we had lost our bid for funding the development of our technology. The management at the time had put years of effort and soentbavlot of our money and naturally investors were not happy at all. Some of you were there and you may remember when I stood up and asked the board why are we not mentioning how we had recently been selected as one of the potential company’s to gain support from NLC for our innovation in India. At the time I was quickly told that ECT had not yet formally informed and that an announcement was forth coming. That anne did come and we as a company began our journey with Indis.

Well here we are, we now have an even greater opportunity, but back then most of those investors, had no faith whatsoever in the potential of India. I guess India still has yet to prove itself, but I am still standing in good faith that India and our management will produce the desired result, the realisation of a commercially viable coldry/matmor plant to be successfully scaled up to industry production level.

Sometimes in fact in my experience most of the time, the great things in life often do not initially meet our expectations and usually take longer ...I have been patient, I am still patient, but today was extra special to me. I now will look forward to the 31st of March and beyond.

I wonder how many believers are their I know I am one ...are you

Cheers and best of luck