consensus

Looking at the HC posts of the last few months, as a forum of s/holders that obviously have a decent well informed interest in the coy, we can draw some conclusions. The views verballed here would be generally reflective of the entire ESI s/holder base. So here are some conclusions I see given the above:

The positives:

* We like the techs - thats why we are invested.

* Kos/team have done very well in commercialising Coldry.

* We generally believe Tincom will eventually fund the SPV, which will trigger enormous interest world wide. The Tincom funding will be the company maker. CSI's etc would appear.

* Tincom $$$ will mean eventual insto investment which means a management/Board overhaul.

The negitives:

* the "fast tracking" comments are not evident. Maybe eventually ECT will "catch up"?

* We are not happy with the continued missed timeframes.

* Why has it taken 9 mths (and counting) for ECT to find a partner for the worlds cheapest steel making tech?

* We recognise ECT is at present a one trick pony (Tincom) If Tincom fell over - 1c here we come.

* As mentioned above - Kos/team/Board have done very well in commercialising Coldry. BUT - are they the right mix to take it to the next level?

* Kos has persistently over promised and under delivered. We have been 12 mth lenient hearing the "long lead times...large capex" excuses for delays. That doesnt wash any more. And if he is to survive as CEO - he had better drastically lift his game. Maybe he is more suited to a salesman role?

* Kos's BRR post ann interviews either have to stop or he needs to read from a script to end the ramping. Look at the Aug 3 interview - a disgrace. He says he has "delivered" in the interview. He hasnt - the sp says that. Kos delivered the licencing (great start) - not what matters - the $$$ to start the FS officially. It AGAIN raises the question - does he/Board have s/holders interests in mind? Listen to his "trading" mentality comments in that interview and also the Switzer one.

* What purpose does Larry serve when we should have appointed a person that is of Asian decent, if thats the market we strive for?

* Board dont buy shares even when the sp is hammered as at present. Why?

* Why are there NO Viet names on the register?

* Halcrows has been issued 91 mill shares (+ the 18 mill) and as of last top 40 holds just 14 mill. It aint real encouraging. They probably sold more recently in preparation for the obvious?

* Its 3.5 months since the license signing. It is unreasonable that there has been NO update in that time period. The AGM ann is due shortly, so there must be an update there - but its still not good enough to wait this long. Kos/Board should be grilled at the AGM.

* A raising is imminent. Why was it not done months ago if they knew the time frames. Prudent management? If it is before the update - then that sends the continued message that ECT dont care about existing s/holders. Why not update the market (with a reassuring comment from the Tincom rep) and THEN raise? I suspect it will be money for the boys....again. If ECT give free oppies...there should be further major ??? marks as to ECTs S/holder interests.

* Its increasingly obvious that not much will be ann until the Vic election is done.

Kos/Board should heed the above, afterall they are employees of the s/holders. They seem to forget that.

Any more "conclusions" people have reached?