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ECT must overcome 2 major challenges before we will see a re-rating of the share price.

The first challenge is to source a partner to build a coldry plant at Latrobe Valley.

The second challenge is to secure an adequate supply of brown coal to potential service customers for the next 25 years.

I understand that both these milestones will be achieved in 2008.

Once these 2 issues are resolved then offtake agreements will follow. Once offtake agreements are acquired, real valuations will then be applied to the share price.

I am hoping ECT can finalise the new Board/Management team soon so that these milestones can be expedited asap.