After many years of failures and disappointments we are finally...

After many years of failures and disappointments we are finally taking serious steps that have us close to being not only on the verge of delivering what shareholders and ESI have been waiting many years for but a solution to a country that's needs finally align with what we have to offer them. Very interesting that for once we are ahead of schedule with NLC moving on the agree to proceed earlier then anticipated and now we are in commercial discussions. Commercially what ESI have to offer NLC is no doubt the reason NLC moved to agree to proceed quicker then anticipated. Behind closed doors i expect that the feasibility study and in turn commercial discussions are laying the foundations of a compelling reason why NLC felt the need to agree to proceed earlier and in turn discuss ESI and its both technologies in their annual report to shareholders. When in the past ESI history have we seen a multi billion $$ company firstly move quicker then anticipated as well as include us in their annual report. Seems like we are finally on track and past mistakes have put us there with the move in India thought out very well and moved on in a way that put us in a position to benefit from a country and a company that see's our technologies as one that they can benefit from in both the coal/power and steel industries.

Our ALDP failure has seen a whole new professionalism from ESI in their push into India with first the use of Yes Bank to gain advice and knowledge of a forward plan and then the process of finding the right EPC partner which after many months lead to the tie up with Thermax. It can not be underestimated how much of a benefit that thought and planning is helping drive our presence in India. We have a EPC partner with the capabilities to meet the requirements the likes of a major company like NLC would require in moving forward to building stage with the capability to upscale the project to meet demand that NLC would be looking for. Unlike our ALDP application we now have strong backing from 2 major companies in Yes Bank and Thermax driving our push into India and a major in NLC that can only benefit greatly from our technology with a need for it. Unlike the past that many were bringing up now we see a professional push into a country that can only benefit from us with strong partners in place.

Some key points from the last update included the detailed feasibility report collaborated together with Yes bank and Thermax which included a review of the technical, commercial, financial and operational impacts was reviewed positively by NLC. Interestingly after commercial talks they state the parties "will move into financial and investment discussions leading to an investment decision" which indicates to me NLC are interested in a serious tie up here. When added up with their move to agree to proceed early and including ESI in their annual report looks like NLC see the the potential that ESI can offer them. Why wouldn't they with the potential to cut costs massively when compered to importing thermal coal with the added bonus of matmor. Finally we are close to seeing what many here have been waiting along time for and the past well it will be forgotten as i have said failures to launch happen constantly in the spec space but when they finally do launch like i believe we will in India then the market will forget. Sentiment has changed since director's showed confidence in oppie shortfall and we are closer then ever with a real plan in India coming to fruition.