Just some thoughts whilst we wait; it's been a long wait for many in here, but it appears we are just about there.
I've just been looking back through some Ann's and the AGM doc from November 2013 shows how focused this management had actually been.
Referring back to the AGM November 2013 ; at that meeting we got a run down of ECTs india strategy, ECT had submitted an EOI earlier in the year wrt R&D for the upgrading of lignite with NLC, fortunately for ECT we were already in hand with our DFT (design for tender ) and a mountain of information spawned from our ALDP application.
This preloaded information; IMO ,no doubt catapulted ECT straight through EOI stages and up to feasibility; feasibility figures where no doubt impressive , initial figures out of LV for a coldry plant were $40-45m; ECTs appointed EPC contractor Thermax returned impressive figures out of indian of around +-$20m.
Fast forward and now it appears we are now on the verge of a Tripartite Collaboration Agreement which also involves the reaper 'Matmor'.
From the AGM -
ECT’s India strategy is to:
–Develop prospectve Coldry projects in India
–Develop an equipment supplier base to provide lowest possible cost suitable equipment to Coldry projects globally to enhance project economics
Prospects:
–Three major Lignite fields; Tamil Nadu (South), and Rajasthan & Gujarat (North West) -
Supplier development:
– Commenced work with YES BANK
If you look at each of the above..
'develop'- 'prospectve Coldry projects in India' - this is what we are currently waiting for, game changer , this will be the result of all else before ;this is likely to pop out any day now - COLDRY AND MATMOR, management have excelled here and drag the reaper MATMOR into the limelight
'Develop' an equipment supplier base to provide lowest possible cost - done ; Thermax on board, specialist EPC in Energy / power plants and most importantly heat exchange systems
Prospect - well we know that ECT have said on numerous occasions that the first plant will ever in Chennai; Chennai is is Tamil Nadu.....but Rajasthan and Gujarat????
These are the north west states and as I've said many times in the past; IMO this will be the soup bowl for ECT ; this region was one of the most heaviest hit during the 2011 blackouts and was at the end of the 'power for all' finger point ; this vast region with a large dispersed population of over 75 million requires an army of power plant if it's to achieved that 'power for all status' ; many of the plants 250-500Mw.. These are the units that Coldry plants can be deployed on and feed 100% with BCE..
An interesting article poster within the last 48 hours
NLC have identified 10 blocks in Rajasthan !
"In the current year, 10 blocks of lignite have been identified by NLC (Neyveli Lignite Corporation) and has been sent to Ministry of Coal (MoC) for further action regarding allocation. These blocks are likely to be allocated in the current financial year by MoC," Rajasthan Principal Secretary Mines Ashok Singhvi told PTI.
Rajasthan is likely to auction 10 lignite blocksthis fiscal as it plans to enhance power generation capacity in the state as well as utilise its rich mineral resources to increase revenue.
The last one
Supplier development:
– Commenced work with YES BANK
Just view YES banks annual .. This ones been ticked long ago!
Management look to have struck or very close to striking all targets!
Wait one minute ! Last weeks ann regarding CEA, it stated -
'ECT establishes alliance with Coal Energy Australia (CEA) - provides a clear development and marketing pathway for coldry's 'gateway' product as the front end drying solution for pyrolysis applications '
Back to the AGM presentation November 2013 pg 7
Fancy this - page 7 we have the words 'gateway' mentioned and we have 'pyrolysis' .... Was ECT part of CEAs successful application ?
WOW; management certainly do look like they have remained focused and on track; the downrampers certainly do look like they have been barking up the wrong tree ; old management old news , this new management are going places IMO
ESI Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
(20min delay)