I don’t know about ‘accessories’ in its common usage, Rupert, and I haven’t been in ESI long enough to lament the passing of better days or to know what you know. But looking at that 2010 Annual Report there seemed to be a lot of excess fat and a lot of BLING back then.
I think it’s been mentioned, but wasn’t the multimillion-dollar Tincom deal just a little premature? How was a detailed milestone schedule possible without construction ready plans? How were they planning to transport the pellets to Vietnam without rail and port infrastructure? Did the ‘Business Manager – Coldry’ look on in quiet disbelief?
Geez, if I were Tincom looking at the final details of that joint venture the question might cross my mind: Is there anything specific here we can pin a dong to? And it was all there dong too, by the looks of things.
I’m sure a published detailed short and or long list of fabricators (if that’s at all protocol) would improve market conditions no end. But with YES Bank in the mix, I am prepared to give this imperfect but trimmed and imo more realistic board and management team the benefit of the doubt. I do expect an announcement in coming weeks, though, NAMING one or more successful fabricator(s).
On another note, if you did not sell for fear of reasons expressed, are you holding now for an improvement in market conditions, whatever that means in the context of your expressed sentiment?
Finally, on a more humourous note, according to this Pakistani blogger, there are at most two ‘expensive and not yet commercialized proven technologies’ potentially suitable for deployment in the Thar desert. FWIW
http://buildindustrialpakistan.blogspot.com.au/2012/09/thar-coal-deposits-need-to-apply-state.html?m=1
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