trading halt, page-58

Lol ... professionls slugging it out through the wee small hrs.

The ASX announcement of Aug 07 gave the following guidance ...

# 40MW ... cost to Cougar $55mill ... at a 60/40 debt/equity the expected $5mill annual profit represents 17% IRR

# 400MW ... cost for Cougar's share of the upgrade $113mill ... at a 60/40 debt/equity the expected $35mill annual profit represents 47% IRR.

The larger project requires an owner operator as Cougar only wants to be the syngas producer/supplier.

As I said over the weekend, imo this is a good, scalable energy business that wouldn't be overly difficult to roll out for decades, adding several new projects around the globe every yr.

That a small 40MW project is profitable is amazing and a promising indicator for the larger more efficient projects.

Cheers
Dex