Hi Amazed.Thx for the question.One of two streams of action, i...

Hi Amazed.

Thx for the question.

One of two streams of action, i think.

Either a license sale into an export contract in an overseas coal mine (Indon / Poland / Russia) for caol sales into a credible thermal mkt (India, China). If a license sale was accompanied by a cash pre-payment would be a roaring ST buy.

Or a binding domestic brown coal processing agreement. Not a HOA, not a press release. If it was for 5% or more, it would be a buy signal due to the ability to wind up % as the boiler dynamic is understood and optimised.

Plenty of people (IMO) would finance that agreement, so building the plant should not be an issue if it is binding.

OK, so we are not going to see a binding, it would have caveats about performance etc, so then the subtleties would become important.

LYA, LYB, Haz or Yal, all the same.

Main concerns are focus on export of product rather than license of technology, questions on cost arising from reluctance of La Trobe stations to sign.

Rgds

f111