My last post referred to the loss-averaging strategy of IPL continuing to invest Carbon Energy CNX to hold at 10% level.
CNX is attempting to staunch its bleeding by a rather complicated DERM application which involves establishing a mini refinery.
The problem is, to get it's promised 5 MW of electricity, Carbon Energy has to get DERM let it have a 150% increase in carcinogenic materials produced on site, and process them on-site to reduce the cost of their removal. ( http://www.carbonenergy.com.au/images/012%20appendix%2010%20-%20process%20water%20management%20plan.pdf)
This is going to be tricky given the level of interest by Greens and other goups. Indeed, this could get more complicated than IPL's core business.
By IPL's ownership in CNX, could IPL run the risk of contamination of the green ire?
It will be interesting to see if IPL take up the rights issue.
future ipl investment in mini oil refinery?
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