Tip:
Highlight text to annotate it
X
Yes, in December of last year, so December of 2011,
we attracted an investment from Fred Energy Pty Ltd and an increased shareholding from Iron Mountain Pty Ltd.
So two companies based in Sydney who have together taken a 53% position in Syngas Limited.
As a result of that transaction, that brought $800,000 to the company,
and as a result of that transaction we’ve been working really ***
getting all of our bio-mass assets into BioSyngas, which is really important,
and making the value of all the work that we’ve done in the past more transparent for other investors.
We’ve secured a multi-project pipeline. Our primary project is Bowman,
which is in the Bowman industrial park on the outskirts of Wagga Wagga in New South Wales,
but we now have some other projects.
One in the Northern Territory and we’ve got preliminary discussions
for a similar project in the La Trobe Valley in Victoria.
So we’ve assembled a multi-project pipeline all based on what we’re doing with Bowman,
and that’s been in discussion with our majority shareholders.
On the other side, the coal side, which is just part of the stable for Syngas,
we’ve been doing work on a flow sheet for some clean coal technologies.
Out of that we’ve actually produced an information memorandum,
which was released in the middle of this year,
which was the raising of $500,000 for a 40% stake in BioSyngas as a company.
At the moment we are in discussion with a number of parties about taking that position.