respone to issues, page-5

Just listened to the last podcast with Barry interviewing Charles.

Seems to be some factual inaccuracies:

1) Charles claims HXG is the only coal gasification hydrogen project near Carbon Storage reservoirs. It's not true. To disprove this the La Trobe project will be using the gippsland basin 8km offshore, it's backed to 3 levels of Government, Japan and some big arsed corporate's.

2) Charles claims that they can just rail the ammonia to Darwin - ahhhh the railway is a long long way away from their proposed project, which has no bitumen roads, so it ain't that simple.

3) Charles now says they intend to get another company to pay for the ccus and gasification plant, and they just provide coal and buy the hydrogen under an offtake agreement. Who exactly is going to spend billions of dollars building a gasification and ccus plant and have it underwritten with an offtake agreement with a $30m company? Really! If you were spending billions of dollars, would you take a binding offtake from a company 1/100th of your size? A company with no revenue? No asset backing? This magical unicorn company would be better buying gas for themselves from the grid (1/2 the carbon and lower cost), Steam Methan Reforming it, and selling direct to Japan without HXG.

4) by virtue of his statement in item 3 above, HXG is saying that it's sustainable competitive advantage isn't in refining the Hydrogen, or storing the carbon (because someone else will do that). It is by virtue saying that it's advantage is owning the resource ( Aust govt deps say the Pedirka basin is too deep to mine coal) and it's ability to sell the Hydrogen to some yet undisclosed parties.

Remember the company is there to take your funds to support this development.