cbd agm

Anyone else there?

I found it a strange affair - much more subdued than last year. There was a frost in the air. I was going to comment on the opaque accounts, but felt intimidated, though for no obvious reason. very few questions asked.

Generally, any new information was vague:

On 2011/12 - Gerry "confident of a good result this year."
On RECs confusion: RECS are sold as required to generate cash. (Now that totally clarifies the situation - questions re number, value etc were not answered)
On question of deposit paid for Neighbourhood Energy - Gerry could not answer because in-confidence discussions with Alinta were ongoing on that and other things. Relations with Alinta "good".
On wind and solar at parity with coal fired power - Mark V said it was. Gerry added later that this was NOW. Solar now costs about 5c per KwH compared to 20c current retail -repeating quotes in press during week.

a few morsels with substance emerged:

On King Island - project held up because of litigation re the technology. This is now resolved and project will be moving forward "quickly".
(The litigation on patent ownership resolved in CBD's favour, with costs, but I think that has already been announced.)
On Italy project - construction starts in December "in a few weeks". Significantly, profit will be "about 10%". (No vagueness there.)