S/P opening 21/02, page-21

You're probably right - even worst case we are only a few sleeps away from having our current crop of questions answered so it will all be moot quite soon. Certainly the company has repeatedly said that there are plans B, C, D and so on down the line to cover our A$10M capex.

What actually occupies my more serious thoughts is trying to establish a sensible valuation - if you consider the Arrowhead valuation and assume full dilution due to options exercise you get an OK-but-not-great number. But it always has to be remembered that the ONLY thing Arrowhead considered was the NPV of future cashflow from sales of outputs from the integrated Coldry/Matmor demonstration plant. That leads to an EV of around A$100M. There are many things a forward thinker might wish to add to that valuation - in India, Autralia and the rest of the world. The valuation has zero allowance for knock-on activity or alternate lines of business.

It would certainly be huge if the feds started to engage with ECTL regarding the LV.

GLTAH.