A year ago it was too soon to bring in a cornerstone investor...

A year ago it was too soon to bring in a cornerstone investor ... it would likely have involved a 10-25% stake in the company as a crude, blunt commercial instrument and may have influenced the way the company wanted to evolve.

Now with mutliple, multi faceted projects in the pipeline, a cornerstone investor can take a much larger ownership of specific projects or classes of projects without having to take a stake in the company which will have other other projects or operations of little interest to them.

In this way:

* An influential power utility in China can take a stake in rolling out say 10 powergen projects in China with Cougar and Direct Invest without having any influence or interst in Cougar/Direct Invest rolling out multiple powergen projects in Australia and other countries.

* Ditto British Gas taking say a major stake in several syngas methanation projects in Qld doesn't preclude Shell doing likewise in say Victoria.

All these project specific investments/partnerships need have not an ounce of dilution to the capital base of Cougar itself.

An amazing business model if it can be carried off.

Cheers
Dex