Funding avenues? Q: It was previously stated from memory that...

Funding avenues?

Q: It was previously stated from memory that ECT had been approached by a number of parties interested in being involved in the Indian project funding. Is this still the case? It was also stated that ECT had available to it funding for around $30mil. Is this still the case?
A: We have access to a vast number of funding options for our project. Our challenge is to optimize our terms of finance and we will do that through de-risking the project by undertaking things such as the TEF.

Q. Could Yes Bank be involved in funding?
A: Yes, but we need to develop a project plan commensurate with their project financing requirements.

Q. What are the terms with Brevet Capital? Announcement states they are 'competitive'.
A: ECT is currently seeking debt finance offers for future funding. To that end, we took the approach to not provide the finance market with an indication of price on prior debt. The full details of this debt will always be disclosed in the statutory reports.

Q. What options are being considered to fund India? Are you only considering Brevet or other providers? If others, then who? Have discussions been revisited with Monash?
A: Brevet is in the mix, as are other providers. We also have A&B options conversions, and a range of other equity & debt. NLC and NMDC will also contribute to the project.

Q. How's the search for a cornerstone investor going? Lots of searching, but seems no one is committal just yet.
A: Given the relationship we are building with our partners in India, NLC and NMDC, we are not actively seeking cornerstone investors, although we are open to offers for discussion in this regard.

Q. Can Yes Bank or Greenard sell $1m in shares at anytime or are they escrowed?
A: YES Bank or Greenard do not own $1M in shares.

Q. What is the current state of affairs in relation to getting the R and D ruling? Are they able to put a timeframe on when a decision will be reached?
A: The assessment process with AusIndustry continues, and has not reached its conclusion. We are active in discussions, and continue to provide responses to their assessment questions. We will provide further information following conclusion of the process. To provide more details at this stage would not be appropriate.

Q. The company previously released an Arrowhead report which in part had projected valuations for ESI based on a DCF analysis. Please confirm that Arrowhead are not privy to any funding arrangements that are not market known.
A: Arrowhead were provided publicly available information, along with general descriptions of ECT’s intended business model to realise value from projects developed. They used their industry and country specific expertise to form assumptions from there, many of which were clearly outlined in their report. Their valuation process is their IP – so, they naturally hold some of that in confidence.Write your reply here