If Monash were the genuine article back in March 2012 prior to...

If Monash were the genuine article back in March 2012 prior to the announcement of the Advanced Lignite Demonstration Program, then why are they not interested now?

ECT's current chairman of the board and Greenard Willing were the linch pin to the Monash deal, so why should shareholders not expect a much clearer explanation about the Monash situation now that things have become far more transparent?

As far as I can tell, the construction ready drawings that ECT are now the proud owners of were specific to a site at Loy Yang, surely the plans for the CDP in the Valley haven't been terminated because funds were not forthcoming from the ALDP, that just doesn't make any sense at all given the situation from nearly 2 years ago.

This was the 1st few paragraphs of the announcement from March 2012.

"Proposed Placement and Project Funding

Thursday, 15 March 2012: Environmental Clean Technologies Limited (ECT or Company and ASX code: ESI) advises it is in negotiations with Monash Capital Group Pty Ltd (Monash Capital) in respect of short term funding for completion of the Design for Tender, the on-going development of the Company’s technologies and working capital requirements and long term funding for the construction of a Coldry Commercial Demonstration plant to prove the commercial viability of the Coldry technology.

The Directors of ECT have agreed in-principle with Monash Capital to make a placement of 300 million fully paid ordinary shares (ESI) and 300 million listed options (ESIO) exercisable at 2.0¢ on or before 16 January 2014 for consideration of $4.0 million. ECT will seek shareholder approval for this placement at a general meeting of shareholders, which is expected to be convened late April / early May 2012.

The Company has also agreed with Monash Capital to enter into good faith negotiations to conclude an agreement whereby Monash Capital will provide project financing for the construction of a single module Coldry Commercial Demonstration plant of 150,000 to 200,000 tonnes per annum capacity in the Latrobe Valley to prove the economics of Coldry production in Victoria. The Company will offer to Monash Capital participation in joint ventures in respect of the commercial exploitation of the Coldry and Matmor technologies and other commercial opportunities as they emerge. These negotiations will be complex but are expected to be concluded within three
months and the Company will announce details when the key terms of the proposed deal are agreed."