These are the notes I posted from the EGM. - pilot plant will have proppants coming out at end of July, then testing Quote from Seigfried - "winner and a gamechanger to the industry" plan - start proppant production, invite people to come and look at production process, continue discussions commenced with people in China, US, India, Europe and Canada, all of these discussions are at a very early stage so I can't predict how they will turn out, but we are responding to people who are finding us, we are not actually looking for people, they are finding us. We are investigating a lease with an option to purchase dormant facility Dormant facilities will be converted with minimal capital cost, just need to change the feedstock from bauxite to flyash Seemed pretty certain on JV royalty structure details If commercialisation comes first, milestone 2 is deemed satisfied Don't believe we will need to deploy proppants down mine before we can start selling and the reason is that there is any number of Chinese, Brazilian and Russian proppants on the market and none of them has ever done a downhole test, everything is sold from a technical spreadsheet Consider themselves lucky to get $50K for CLRS He joked about his placement saying he was 'putting his money where his mouth is' One of the Iso tests only takes a day but the other takes 3 months, current target end of July start producing proppants High quality ceramic producers are closing, there's no market due to higher costs. We've got where everyone want to be, the majority of the market Only company that they know of that has their style of product, Halliburton tried for 3 years to perfect their tech but gave up about 3 years ago Other companies that can say they have flyash in their proppant but it is a small percentage, 5-15% Target is 3c per pound Meeting lasted about 30-35 minutes. 11 people other than staff, think about 4-5 of us HC-ites were there LWP ticker available in US - part of the reason the ticker was chosen Think they also said they had adequate funding for the next 2-3 years
Also take a look at the AGM notes, 23/5/14 Where Milestone 3 is achieved at any time (before Milestone 1 and/or 2) – in this event Milestones 1 and 2 are deemed to be satisfied (if they have not already been achieved) and the Company must issue all of the Milestone 1, 2 and 3 Shares to the Vendors (to the extent they have not yet been issued).
The initial plan for the company has changed significantly. If you read the EGM notes 24/4/15 Annc you'll note the different direction that CKK is now looking at and their change of the Milestone 3 to accommodate other possibilities. In particular, considering they are doing due diligence on a dormant plant, milestone 3 options a) and b).
Bottom line is you can forget about Milestone 2, it won't happen. If you need any further references, let me know. I love it when people reference their research.
LWP Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
