How's it looking now?? 20 million still bid at .1c?? Some lucky...

How's it looking now?? 20 million still bid at .1c?? Some lucky folks managed to get .2c for them with 9 days of trading left in DECEMBER of all months. Very ballsy individuals, but let's all see how it washes out next Friday.

Seems like the news of the day is the new CEO has brought his old company in to do some non binding design work for AVL scheduled in the middle of next year. "Completion of the ECI is scheduled for Q2 2023, with the final preferred EPC contractor being notified
within the same quarter". So in 6 months expect to see some more designs. Wonder what has been going on the last 5 years???

What is ‘early contractor involvement’?

An ECI (sometimes referred to as ‘ECE’ – early contractor engagement) is a procurement model that allows the contractor of a project to be involved in the early phases of design between parties such as the Principal and designers. It is usually a two-stage process.

In the first stage, the Contractor is engaged to prepare the preliminary design with the Principal. This is often looking at the ‘buildability’ aspects of the project and including the know-how associated with the actual construction and construction cost alongside the design process.

The second stage often involves a design and construct model, however, the Principal does not have to engage with the Contractor and can competitively tender the works to another Contractor, although often the relationships developed during stage one means the Contractor and Principal continue to work together through the project.

Some of the disadvantages include:

• When designers are novated, their primary duty is changed from project owner to the contractor and the principal loses an independent source of advice
• It is unlikely the Owner would not accept the Stage 2 offers due to the time invested in developing the relationship in stage 1 and the disruptions to time-frames from re-tendering
• High turnover of staff or major relationship breakdowns could significantly impact the performance.