OMouncements, page-54

But WEC had the technology when drying brown coal was all the rage and renewables were not competing as well in the same space. Other competing ‘clean coal’ technologies were also not as advanced as they are now, and there was a lot of political support and motivation and the public was not as anti-coal as it is today.

But also good old-fashioned supply and demand drove WEC from about 20c in 2005 to $4 in 2010.

Just before WEC’s share price started to take off in 2005, the company’s total number of shares on issue was 27m – TWENTY SEVEN MILLION. Tiny.

ESI has almost 5 billion shares on issue – FIVE BILLION. Huge.

Just before WEC’s share price started to collapse in 2010, it had only 307m shares on issue, a small fraction of ECT’s 5 billion.

Last time I checked my Economics 101, if a product is in big demand and there’s only a small amount of the product available then people will pay a lot for that product and drive the price ever higher.

ESI the next WEC? lol.