EnviroMission Ltd. (EVOMY)

[tykundegex]

Final report out: http://www.asx.com.au/asxpdf/20121001/pdf/4292lwv6ldl9s6.pdf

Noteworthy parts include:

"The 'pure equity' project finance proposal ... to provide Enviromission with 100% debt-free project equity is still undergoing third-party legal and banking due dilligence"

"The company is in discussions to grant development rights to develop Solar Towers in other jurisdictions both outside and within the USA. Development rights will not be granted until the prospective recipient can demonstrate an ability to secure a PPA with a major power utility operating in their jurisdiction and the ability to finance the project at a minimum to a pre-feasibility stage. ... The company will receive a significant fee for granting the development rights and an equity position in the project with an on-going annual licence fee .. all of which will be determined on a case-by-case basis."

"The independent assessment placed a value of A$60 million on the IP and development rights.. was conducted using a relief from royalties approach that included a probability adjusted NPV of likely future cash flows based on revenue projections supported by the PPA with SCPPA..."

With today's share price, the company is only valued at around A$10 million, or 1/6th of the value from the two La Paz towers alone (i.e. does not consider granting of new development rights ..which they appear to have in the works).

I bought some shares today... at A$0.025 they're a steal, if only for a quick flip on good news..but also to hold through a few more development agreements signed and .. the-deity-of-your-choice willing.. a tower actually built!!