Ann: Suspension from Official Quotation, page-205

Hi W3, Glenr
Understandably, there is a common theme here that the Indians are stringing ECT out until they go broke, the Indians then gather the patents & live happily ever after. But is it that simple/realistic?

Firstly, NMDC have again stated they are interested but want more time. It's been mentioned here that a new finance director etc has caused delays. If they are not interested - imo they would just cut us loose. If ECT staff thought NMDCs intentions were anything less than honourable - would they have paid $325,000 into ELF? Would a large BHP type coy with say 20 directors all collude to string ECT out until broke? Nahh. Look who is watching. Australian High Commission, Austrade, Dastur, Yes Bank etc. If these delays go on much longer serious question marks would very likely start. Things will eventually have to come to a definitive showdown. Maybe that's happening as we speak? I have no idea.

However, let's play out the scenario of NMDC waiting ECT out. How long would they have to wait until they could use the patents? Let's say ECT went broke end 2019. A tender process would have to play out - probably over a year or more. Likely there would be multiple firms interested in bidding. But let's say NMDC win the tender. Great, they have patents say 3 years from now. But the patents are near useless without the ECT knowledge to implement the patents.

All this would have to play out whilst Austrade, Dastur etc are watching. Nah - imo it's just not a possibility.

Also, I'm assuming above that ECT went broke end 2019. But why would ECT go broke even if NMDCs involvement was terminated one way or another?

ECT have no debt. I'm guessing they have about $2-3m from the recent ELF incentive? NLC have indicated they are interested in a stand alone Coldry plant. In Victoria ECT can carry on with Brevet R&D - there is the 1.3m 5 year contract that can/needs to be replicated into more local contracts. Also in Victoria - the Kawasaki hydrogen possiblity...Hydromor or/and Coldry. Recently ECT stated the Vic Coldry plant was upgraded to 600ktpa. Something with more potential that starter fuel for Loy Yang etc?
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Nov 6 2018
ECT rep stated:
"My visit to India this week also included advising our partners of the need to progress our development in Australia for all of our technologies, including Coldry, Matmor and HydroMOR. Notwithstanding, we also spoke about the immediate opportunities in India and Indonesia as well as Australia. I cannot comment on the country of origin of those other companies that may have approached us showing interest in industrialising our technologies."
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IMO ECT won't be anywhere near broke if NMDC terminated. Sure, the share price would likely be hammered - but ECT would kick on. It is our opinion that we can forget the idea that NMDC are playing games to "wait us out" until ECT go broke. They would be waiting a long long time.

So what happens now? Obviously things are coming to a head at some stage soon - "imminently". This can't go on much longer. Hopefully NLC get more active. IMO it will all happen with NMDC - just a little more patient persistence needed.

tick tock...