Wow

Wow today saw a little pull back and panic that is normally expected in any stocks re rate and run up. We have pretty much had a fantastic no blips run up from .008 to to a high and touch of 2.8 on friday on the back of fridays news. The 2.5 area has been a significant road block for a good few days with a number of attempts. Normally these struggles are first seen at 1c but we pushed though that easily and 2c went virtually the same. So 2.5c has been more difficult but when it does finally fall it will be as we push though 3c with ease. Will it be on a technical bounce or on the back of company making news well time will tell. The pieces of the puzzle keep coming together and friday was a very significant day for ECT showing that after the ALDP debacle we are very much still a major player in the LV picture with CEA and who knows else.

Fridays news came out of left field and unexpected to the market and holders who had given up on the LV story. But 1 must look back at our july 2007 announcement of JV with Mecrus to see that just like our India strategy the move back into the LV was born back much earlier. Interestingly Mecrus has joined forces with ECT to focus on primarily on the commissioning, operations and maintenance of ECT projects in Australia and abroad. So suddenly ECT do a MOU with Coal Energy Australia who has Energy Australia listed as its partner and will host the CEA plant on its site as well as supply the coal. Interestingly Energy Australia are coming to a point down the track that will require start up fuel for its power plants. Mecrus MD Barry Richards joining the ECT board suggests ECT are in the box seat to not only supply CEA Coldry pellets for its ALDP Pyrolysis plant but also be the supplier for start up fuel for Energy Australia. After giving up hope of ECT having a significant role in the LV after the ALDP failure things just took a dramatic turn that suggests ECT may well be a main player in a number of roles with possibly a number of parties in the LV.

Lets go back to India now and the coming on board of Barry Richards also suggests to me we are getting very close to a tripartite agreement being finalised as ECT gear up with the management team capable of going full steam ahead into planning and then construction as soon as agreements are formalised. Mecrus as announced will be involved in both locally and abroad so Barry coming on board suggests Mecrus and ECT are aligning more closely as the business gets ready to move dramatically forward. Also we had Ian Mcewin resign believing his investment is now at a point where he is confident to let the right people take over and move forward both Coldry and Matmor. Then we also saw Glenn Foozard resign from G willing and then take an executive roll with ECT as ECT gear up and require him to undertake a greater work load. 1 line from that announcement of Glenn's move to an executive roll stood out to me. It sated that Glenn's position is due to the increased workload as ECT enters the proposed project delivery stage under its commercialisation plan for both Coldry and Matmor in India. They must be real sure this is happening and soon not maybe as Glenn and Barry Richards strengthen its board room ahead of a company making moment in India for both Coldry and Matmor commercialisation plans. I believe they are getting set to be able to move fast now as we see both additions to the board here as well as in India with ECT India. And all this a few weeks after NLC's top end and the ministry of coal India visited our shores and out pilot site. 1 must ask will the Indians also play a role here in the LV as we already know Thermax will be utilised to cut costs of any plant built in Aus with import from India at a significant cost reduction.
So today saw the pullback after a significant run. Now when will the next break up be. Will it be technical or fundamental on the back of a company making moment that looks like is getting real close as news starts to unfold and the board adds significant strength suggesting project delivery is just around the corner. I have seen many stocks and been on many rides from PRR to OBJ where the rides were not easy as dips hit as traders get caught and sell and some take profits along the way. In the end remember what is unfolding here as we are on the verge of a serious re rate as Indian agreements unfold with then a move back into Aus in the LV with CEA and what else?