Well, I was wrong on the CR, so for a bit of “fun”…Goal was to...

Well, I was wrong on the CR, so for a bit of “fun”…

Goal was to resolve the forestry issue, turn Sengkang LNG on, generate cashflows and expand from there. It was a medium to longer term horizon. Same with Philippines LNG. I was sure that they would negotiate project financing to achieve that. Then COVID. Another delay, both in Indo and Philippines with the substation, intertwined with COVID and govt “bungling”, not just due to EWC management.

In the meantime, shorts may have reigned supreme again? Interesting thing is that they have pushed the SP down so emphatically since the forestry ann. How is that possible with 19m shorts. I don’t think so – I am thinking there is much more shorting out there in the dark market, all wrapped up with the obvious attempts to wrest EWC from EWI control. I don’t think the shorters motive was solely the short – but to get EWC, and all that EWC has built and put in place, off SE. Does that mean that those in the top 20 are complicit/involved somehow? In the meantime, opportunities slip away. SE could have screwed us all over by now, but hasn’t. I still believe he rules for all.

So what to do? Grow organically, under constant threat of the shorts (predators), or back yourself with “partners” who see the immense value and opportunity in the company? How to do that for EWI? SE has always said he would loosen the reins when things started to resolve. We have forestry sorted, land acquisition to the point where they can start the transmission line build and the substation progressing with some urgency and full govt backing now. What to do, especially if one wants to fast track things now if one knows/believes emphatically that the major hurdles are gone and the lines of business are there to take advantage of now.

How about spending 6-12 months in the lead up to the forestry resolution sounding out the sophs/instos, figuring out who is good or bad, selling the story and all that exists and is ready to go – all of the new lines of business etc etc. Reinforce how you’ve put US$25 million of your own coin in at 50c because that is what it’s worth to you and if they want some of EWC they will have to pay more than the predators have it down for…

Now for the fun part. Would they voluntarily raise ~20m AUD with 15% placement? Pointless raising such a small amount? What if they were to do a non-renounceable rights issue for 30% of the issued shares at…..25c? They get $135m AUD, less costs, every shareholder gets to participate, any shareholder who does not think it is worth 25c opts out and the “new” backers who believe in the vision, have done their due diligence and are prepared to back it, underwrite the deal, knowing a lot of holders will not take it up. SE can look himself in the mirror and say everyone was treated equitably. He has less influence post dilution, which is what many of the instos have been wanting, EWC have cash, a completely new support base and they fast track project completion. The shorters spend the first 24 hours hoarding toilet paper as they sh!te themselves, then 24 hours buying brown undies instead of the silk ones they’ve accumulated, before they start the inglorious task of buying back (let’s keep playing here) 20-100 million shares on market before the rights date comes around. But they can’t. So by that time, the SP is >25c and everyone is happy.

Now I’m off to buy a lotto ticket.

BTW, I really have no idea .