will santa drop by ??, page-32

no need for cryptic ''cross'' words at this point in time arion.

So long as the company has money in the bank, it can drag this Mexican stand off out whilst entertaining all CSI funding options. Each day is a day closer to ECT's RFP outcome. 80 or so days cash burn gets ESI into a numbers crunching ballpark ALDP wise.

Although Coldry is considered the front running densifying least energy consuming least environmental impacting technology with demineralized water capture not requiring treatement as it's by product, and the ALDP provisos looked to be tailor made for Coldry, it would be unreasonable to consider ECT will be granted $90m.

I would speculate that $25m to $50m is not improbable to factor into the mix I would be just as surprised if say only $20m was granted, as I would be if say $70m was granted towards a Coldry solution.

This would see the CDP being owned on an equity ratio, anywhere between 33% and 66% by ordinary share holders and anywhere between 66% to 33% owned by CSI SPV.

Perhaps one of the stipulations Niel wants to put to bed has to do with an ALDP grant scenario which might include such a new pootential for ECT rather than the CSI to own 51% or more of the CDP ?

A CSI would surely feel muntified by such an originally unforeseen probability ?

This ALDP induced equity/control potential was certainly not a contingency for consideration before ALDP was announced ?

I imagine the worst case scenario that the Niel led CSI consortium would have considered as material contingencies pre ALDP ( so far as plant control of ownership / equity dilution is concerned ) would have been along the lines of a hand full of 5% to 10%er CDP CCP control dilutionary parties including the ECT 5% carry as the maximum scope of dilution of control potential ?

Perhaps Niel is demanding more than 51% CDP equity, and it is envisaged that post ALDP there is a very real chance of such a better than 51% ECT CDP equity situation materializing ?

Perhaps 66% ? 75% ? Remember,,, pre ALDP Niel's team expectation was 95% LV CDP CCP equity ?

These figures post ALDP grant expectations could create new material contractual aspectes both parties could easily argue were unreasonable, if this is the crux of the current situation ?

I may be way off the scent. But I do think that what ever ALDP 'Golden spanner' got thrown into the works has muntified the Monashians grander plans for ECT domination further down the track,,, when every 2mt/a Module rollout deal will mean 8 figures p/a in royalty payments to whomever controls the IP and DFT.

The coffers would be getting low alright, but considering ECT have not accepted somewhere between 'any' and 'all' of Niel's terms per (no) anns, it's only fair to consider ECT do not in the least feel compelled to lay over the barrel any time soon.

Interesting that ironking's Ash email stated '' may be material'' .

There would have to be other contingencies similar to ARUP bond up the board's sleeves.

There is no way the board would allow the company to trade insolvent.

There is also no reason to discount the possiblity of a contingency/ 'contingency' offer from Monash in Dec to release co running drip feed dollars in order to keep the Co afloat,, on their hopeful terms,,, remember,,, although they may be appearing to attempt a filibuster with ECT, they can't kill off or take over ECT, the control of the IP or the DFT for the few million they are with holding because there are just too many plan b'ers that will step to the plate now that it's a Government assisted scenario.

There is currently good reason to speculate that ECT has a ''2 in the bush'' value of better than $70m based on the IP, DFT, growing international commitments and anywhere between $20m and $60m ALDP grant potential.

The Co will have genuine pulling power out their atm wrt ,,contingencies imo. e&oe RD