So that's it. They dont expect to get the $17 mill (fairly obvious) but at the current rate of cash burn they wont see out 2 quarters.
Makes me feel mean. i almost feel sorry for them (me).
And we should assume there's only 2 CETO units in the water and they're only just designing (not manufacturing) the CETO III, so I presume all of that cost is in front of us as well.
Bugger. I always wondered how the WA Watercorp was going to justify giving us the contract for Binningup without having a CETO III operating. But i consoled myself thinking they'd have an array of 3 x 3 CETO II units operating by November and presumed that would be enough to get them over the line. From what i can tell we've got two in the water, and we're still working out how to make them better. Maybe that's a bit harsh, but i'm not in the most accomodating mood.
What are our chances of Binningup? Who knows, but i'm less confident that's for sure. Bugger again.
Any thoughts?
CNM
carnegie corporation limited
So that's it. They dont expect to get the $17 mill (fairly...
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