"I would be very interested to know who this is, skills, creditials."
Yes Carl - if he is the project manager, he is crucial.
For me - negitive today was:
The market doesnt trust Tincom....yet...delays
"The project engineer's first action will be to undertake a final review of the scope of works proposed by Arup, with the intention to enter into the formal agreement with Arup, by 30 May 2011."
What gets me is - just 4 weeks ago Tincom committed to April 30 Arup sign off - what changed in the last month Tincom??
The market is saying - "the jury is out" until 30 May at least. And even then - can we really trust Tincom? Arup is central to kick off regardless of the comment "importance of the initial capitalisation of VCPL to enable commencement of external engineering work"
Also - whats the "$400 mill" reappearance? We were told $300 mill just a month ago?
These sorts of inconsistencies are not what we want to see. Also - how are we/anyone to trust the latest 51% emissions info?
On Feb 21 Kos said in ASX ann:
"We are targeting commencement of construction 2011"
ECT need to get the "$300 mill - 51% - targeting construction 2011" statements factualised...believable.
On the positive - the $500k is done, volumes are up markedly - hence the ability to absorb LJ's dumps/dilution is less concerning.
Highlights to me - get "some" Chinese on board asap with the "just do it" attitude.
I dont have any doubt the plant is going to be built... but...ECT need to be accountable.... the jury is still out
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