Sorry - it's not on the website. It's an emailed newsletter from Kos to those on the email circulation list. I only posted an extract, so for those not on the list, here's the full newsletter
Thursday 24 June ABN Newswire Interviews Coldry Business Manager Ashley Moore ECT's Coldry Business Manager, Ashley Moore, presented at the Resource Roadshow in Sydney Tuesday evening (23/06) followed by a lunch time presentation in Melbourne yesterday (24/06) at the RACV Club. The events, organised by Symposium, have been a fantastic forum to present our business to investors, brokers and resource industry players. The opportunity to network and engage with the audience face-to-face following the formal presentations proved a real winner and generated a great deal of interest in the Coldry technology and our Victorian project. ABN Newswire filmed the Sydney event and interviewed Ashley following the presentations. Ashleys interview with Brian Carlton can be viewed on our website by clicking here.
Victorian Project - Signing Ceremony Friday 25 June 2010 Business leaders will gather in Melbourne on Friday to officially sign a record export deal that heralds a new future for Victorias vast brown coal reserves. A senior Vietnamese trade delegation, led by Vietnams Minister for Planning and Investment H.E Vo Hong Phuc, will join Australias Federal Minister for Trade Simon Crean to officially acknowledge the multi-million dollar brown coal deal, between Melbourne technology company Environmental Clean Technologies (ASX: ESI) and Vietnams TinCom. The deal enables Environmental Clean Technologies, through its joint venture company Victoria Coldry Pty Ltd, to export two million tonnes a year of dry brown coal from early 2014, expanding up to 20 million tonnes a year in its first decade of operations. Trade officials say it is the largest deal of its kind between Victoria and Vietnam, and will herald a new future for Victorias vast brown coal reserves, as well as helping to underpin the energy security of Vietnams rapidly growing economy. The agreement signals the first commercial deployment of ECTs revolutionary brown coal dewatering technology, known as COLDRY, proposed for development at Gippslands Loy Yang Power site. This patented process enables brown coal to be economically dewatered from 60% down to 12% moisture producing an exportable, black coal equivalent pellet. ECTs dewatered brown coal pellets are more environmentally sound than using raw brown coal and can cut carbon emissions by 30 per cent. ECT Chief Executive Mr Kos Galtos said this license agreement was an historic step for ECT, and concluded almost two years of intense negotiations. TinCom chairman, Thang van Luong said this revolutionary technology created an environmentally friendly, sustainable energy supply, which was critical for emerging economies around the globe. We will build our Victoria Coldry business by supporting the growth of Vietnamese power stations consumption of high grade Coldry black coal equivalent pellets, as well as seeking other opportunities to supply the energy needs of China and other emerging nations, he said. Mr Galtos said the deal meant hundreds of construction jobs could soon be created in the Latrobe Valley, but said the implications of the deal were more far reaching. COLDRY technology is a revolutionary way of using what is a world-class lignite asset, he said. Victoria has around thirty billion tonnes of economically winnable brown coal which to date has predominantly been used for local power generation. Under the terms of the agreement, ECT will draw a royalty of $5 for every tonne, resulting in revenues from this project of $10M a year in phase one, increasing to $100M a year after 2020. The COLDRY plant is expected to be fully operational by late 2013 or early 2014. About TinCom TinCom is an investment and commercial company based in Vietnam with interests in real estate development, trading, fund management, manufacturing, construction, brewing and pharmaceutical industries. It plans to build its Victoria Coldry Pty Ltd business by promoting the use of Coldry black coal equivalent pellets to Vietnamese power stations, as well as seeking opportuniies to supply the energy needs of China and other emerging nations. Its head offices are based in Hanoi.
ESI Price at posting:
4.8¢ Sentiment: LT Buy Disclosure: Held
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