Hi Shamish,Your comments "In the meantime ,i know for a fact...

Hi Shamish,

Your comments

"In the meantime ,i know for a fact siteworks have commenced at the Wajo site, major equipment is ready to be shipped and the Indonesian Government have indicated they want the project to proceed.
This project is going ahead.It might be a few months later than we expected but even at late 2010 it is still way more advanced than any Gladstone projects ".

I have the same confirmation on all the points you mention. From three independant sources.I classify them all as reliable sources.

The lack of official announcements makes for nerves of steel one moment followed by overwhelming frustration. I am holding and have also been buying recently on the strength of firmly believing the company is shackled by the Indonesian Government on many levels of official announcements.

Deutche Bank have been selling down their trading holdings over the past few weeks. Any sugn of price rise traction, then in comes Deutche with a new line feeding in. This must be coming to an end soon.

I wouldnt even put EWC in the same breath as the pck of clowns at OZL. OZL were dead in the water by the perfect storm of financial lending practices, commodity prices crumbling but above all, the totall and utter management and Board incompetence on probably four or five major fronts. Their incompetence will be documented one day as essential classroom reading on how not to manage a company.

Until EWC give me a reason to doubt their competence, I am more than happy to keep supporting them and building my position on any weakness in the price.

The price rise from 18 cents only a few months was swift, seme might say too swift.I am content for the price to hold around these levels and build a firm base for the next leg up ,not if but when news finally gets released on Sengkang progress.

Cheers

Mont