interesting time, page-2

tomg2009

I don't believe ECT will sign a jv under the same conditions.

For starters ECT will now have full rights to the ARUP drawings - hence why ECT will be engaging ARUP on their own. With Tincom, the ARUP drawings would have been owned by VCPL - whereby ECT would have had no more than 50% control over the drawings.

Secondly, ECT will not be giving another party exclusive rights to coldry pellets for the first 100m tonnes.

Thirdly, ECT will be aiming for a lot more than 10% equity share in a joint venture.

The market did not embrace the Tincom/ECT terms. This was evident in the share price over the past two years.

I am sure this time the market will value the share price accordingly, if ECT can achieve better terms and a more reputable partner than before.