Trading Halt for capital raising. I did not get any hints at the...

Trading Halt for capital raising.

I did not get any hints at the AGM that this might be on the cards. They did say they had enough capital for well into next year by which time Solar would be trading with a nett surplus. They aslo stated capital would be required to build the demonstration CPV facility in the USA probably Nevada. Also on CPV they said that they were going probably to fold them into a new company along with the promised Govt and State funding. So maybe this is the precursor to that development.

The next generation solar panel was on display. The efficiency has been increased to 18% which is what they said they would be doing last year when we toured the factory. The new panel is much more black in colour and my understanding was eliminates the use of Silver which is very expensive. They are now much cheaper to produce and this saving goes straight to the bottom line. These new panels will replace the existing early in the new year.


They are also on track for the next big leap to 25% efficient cells. The Suntec UNSW research project is only to go to the 25% stage before it splits into 2 Suntec have they own theories of how to advance past that point and Silex are going to follow quite a different route. Silex are confident that they are on the right track. Suntec do not have any rights to Translucent Technology and this aspect is specifically covered and excluded in the collaboration agreement. Up to the 25 % point any IP will be owned jointly by the participants.

On U

The 30 month time line from application to approval given by the NRC is just a guide as to what the maximum time might be. The same time frame guide was given to Areva for the approval of their enrichment facility. Their application was made a roughly the same time or maybe a month or two earlier that GLE. Areva asked for urgency and they have had their licence to operate granted already.

GLE have also asked for urgency. MG was evasive when asked directly if he thought the licence maybe granted sooner than the end of 2011. From the hints I picked up do not be surprised if GE do not have their licence to operate a full commercial plant before mid next year. NRC have already said that they have approved the process and that all that remains is the safety audit and that they are already months ahead of their own time line.

A few weeks before the AGM the company announced that BRAD Spillane had resigned as company Secretary. What the company did not say and I think should have made clear is that he is not leaving the company but his role as CFO which he has not resigned from is now much more intense and he wants to focus and the finance side of the business.

Everything is pointing to a very exciting ride over the next few months.