At the bottom is a link to the transcript of an interview with Roy Lipski [CEO of OCG] last week. It’s for sale [for $0.75] so I have only paraphrased some of the more important points, nothing is word perfect. There are a number of things I think are relevant:
•We are working on projects in Australia. •It is only in the last six months that we have doted the ‘i’s and crossed the ‘t’s. •There are only certain types of companies that are going to build our plants with the technology at it’s current stage. The company will need enough money on its balance sheet to do this without debt financing. •And potentially there might be another partnership we announce [other than Abramovitch, Mourik or Ventech].
Crossing the T’s and I’s seems like a reference to Chinchilla, and this is the first time I have seen a direct reference to Australia. The timelines certainly match.
The requirement from OCG for companies to be debt free [presumably to protect their reputation from the potential insolvency of a partner] may well explain [in part] the non-recourse Notes issue Linc placed in November that pushed all the debt on the oil business. I have mentioned this before, but the clean energy department is debt free. Importantly, while Linc Energy don’t have the money to build a plant, GCL does, so I think that bodes well with the OCG requirement.
Partnership? Well we all know who I think that’s going to be, but it's just a wild guess.
