no market confidence

REH.L finished down about 8 percent in London near 15p where it was before the CWE announcement.

I expect CWE will be trading back at 10c shortly.

The problem is that management has very little confidence in what they are doing. The unit will be in the water for a few weeks and then it will be pulled out for inspection. That is OK.

The part that really shows management's hand is the fact that despite all the talk and all the diagrams, they are yet to actually design the business end- using pumped water to generate electric power.

I gave them the benefit of the doubt in their announcement that they were generating "power" only to have that clarified that it is hydraulic power. Others who are less generous could construe an attempt to be less than straight up front

CWE provided a time schedule at a presentation recently, discussed in this forum, that showed they were entering the detailed design and construction phase for power generation, but the time line indicated this could be a two year affair, based on past performance.

You cannot realistically expect significant external funding for a project in such an early stage. With wind and solar you can at least see electric power being generated.

With the CWE installation there isn't even a swirl in the water - just figures on a computer screen.

I kick myself for having been suckered in by some of the earlier promotional garbage from CWE and I'm by no means convinced they have kicked that habit.