technology, page-4

The latest Ann does seem to suggest that we are looking at the bigger funding picture.

Its been rolled over a few times that we thought that we probably wouldn't see any signal of funding other than the 6m.; that we would maybe have to do an Oliver Twist and cry and see how much we could get from the ALDP fund pot

In the expression of interest criteria - 2.1.3 of the doc -

http://www.dpi.vic.gov.au/energy/innovation-and-research/etis/advanced-lignite-demonstration-program/application-and-guidelines

It states-

Respondents will need to show that they have insufficient funds for the entire Project and to justify the amount requested from the Program. This will include briefly outlining any efforts to obtain funding from other sources, including funding from other levels of government and from commercial sources. The respondent will also need to justify why the Project is unlikely to proceed in the absence of funding from the Program."

Obvously ECT can not fund a $70m project alone; they will need to have some backers. It would be Russian roulette with only one chamber and one bullet, to stand there and be thinking that a full $70m would come from ALDP.

They have to justify the amount requested from the Program.

We know that a participate company gains the same percentage equity in the demo plant as the amount that put forward to it over the entire cost. Full funding of the plant by say a Monash and Tincom ( for arguments sake) would not give ECT any equity share at all.

It would be interesting too see what figure they are looking for in the expression of interest; Obvously they need to have a percentage equity in the plant; what will it be 20%, 15%... Without funding you would imagine that they would try to keep the percentage on the lower side in the event if any additional costs incurred within the project , well then it would be a less percentage they would have to pay in that event...

All interesting stuff.... But I think IMO we can have initial funding figures set up with partners to a level from where after we will be looking for funding to gain that equity share..... It's a good argument that the project is unlikely to proceed if your very own company doesn't have an equity share in it!!

EOI goes in this Monday......they have to submit a type of figure they need within that EOI....and by Monday ...so that would suggest that hey would have those figures on the table if not by now at the latest Monday; Ann them next week.... Mid to late?? I'm with Surges....