Obviously a clean cut Monash $3m as a kickoff to the "indicative timetable" would have been preferrable...however
"Monash Capital Group are progressing in tandem to the above and will be the subject of further announcements"
Zero interest...90% - not bad at all. GW taking shares at 1.35c for the $75k fees.
"We believe the acceptance of the Bond by Arup sends a clear message of confidence in the commercialisation of our unique technology and builds upon our longstanding relationship with one of the world’s best engineering firms.”
Are Arup just going to dump their shares on conversion? If that was the intention...
Why not just tell ECT to raise the cash from the usual sources...say soph inv or Menzies?
Why would Arup go down this track? They are an engineering coy who deal with hundreds of techs. Is it normal business for Arup to accept shares from a so called dog stock on its last hind legs? I very very much doubt it. We all know Arup have supported ECT through very very nasty times.
Maybe Arup actually WANT long term exposure to ESI...CSI? Who knows the potential of Coldry/Matmor better than Arup? No one...fact. Gotta be a good look having Arup appear in the register Top 5. Better than Fortrend?
"engaged in confidential and as yet incomplete negotiations with a number of parties regarding funding of, and participation in ECT’s Coldry Commercial Demonstration Plant (CDP) project. Whilst the Company will make an announcement to the ASX as soon as these negotiations come to a firm conclusion...
The Board considers it important that shareholders have the opportunity to receive and review the announcement on these potentially significant developments prior the Company’s AGM and have postponed the date of the meeting accordingly."
And yes...the biggie is still to come...which is all about funding/participation in the demo. If no demo Id say ECT are in real trouble - but we see the EOI lodged.
Id say Arup are confident the demo will attract the $$$ otherwise WHY bother with the above?
Shaping up nicely indeed...
tick tock indeed...
ESI Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
