grid parity, page-4

Haha, I like the fact they are good at govt handouts given the huge Renewable Energy Fund that's just round the corner...

Re bank loans, I'd love it if they'd taken one out instead of all this equity diluting crap with opportunistic funds, however, I don't actually think it was an option. Banks are pretty strict on what they lend out post the onset of the GFC and I doubt that any bank would lend DYE millions of dollars given there is still next to no revenue and has never turned a profit. If you have spotted something about a 20 or 30 million dollar facility, I could be wrong but I am pretty sure it relates to the ongoing crappy funding deal.

In hindsight, how great would it have been if when the SP was at 75c they'd raised truckloads at say 55c (including from us long term committed shareholders) rather than a wee bit at 65c and then entered into this deal which has killed the SP. I can only assume they thought that even 65c was a tad cheap at the time and that by dragging out the rest of the capital raising over 3 years in bits and pieces as they needed it, that they would be issuing the rest at an average price well above 65c (could still happen and fingers crossed it does!)

I hate the deal that we got, and resent the fact DYE could not have foreseen the damage it has caused to the SP, but at the same time if Tata are truly committed to large scale manufacture, and DYE expected Tata to make more of an announcement to the media and their own shareholders about such a commitment, then they could be forgiven for thinking the deal they entered into was a good one. If that’s the case the real concern is how much DYE actually understand the mindset of Tata rather than their (lack of) ability to finance the business well (based on their understanding). Looking through carious announcements over the last few years about the expected timing of the Tata commercialisation it would be easy to say their understanding of Tata's mindset is very limited (or that they are misleading us dreadfully). Both are bad, but at the end of the day if they have at least got the main bit about Tata being committed, then eventually I'll be a very happy shareholder, even if I shouldn’t trust their timing estimates...

Re the grid parity comment in the Austock report I can understand if DYE think they are at Grid parity, but that Tata will wait to see actual product being tested in actual conditions for a reasonable period before agreeing with DYE let alone announcing to the world that they are at Grid Parity and going full steam ahead. Unfortunately I don’t trust Austock’s expectation that this is the year for Tata to announce their commitment to commercialisation (after all they have to form their opinion based on discussions they have with DYE.) Each of their reports has hinted at an approaching timeframe and each has been wrong. One of their reports will be right, HOPEFULLY this one!

Still believe, still wish I had $millions I could use to snap DYE shares up with, but hope like hell we get something soon that justifies my belief...