"How much do you expect the upgrade of Hallmark’s plant to process LWP proppants to cost?
The preliminary Capex budget is US$1.3 million plus US$700,000 for working capital. We expect to have more visibility once a comprehensive review is completed. Any funding above this level will be in the form of loans to the Joint Venture Company. "
Where is the comprehensive review? 6 months+ later not a peep about this.
We accepted funds of circa 20% over our initial target, in fact we could have raised far more and rejected a further USD $4 million offered by US institutional and sophisticated investors. With this deal done, we intend to utilise our strong balance sheet to pursue other appropriate EPS accretive transactions
Not a peep about any use of OUR money for further transactions... (did they even screen the dam insto's? were they completely blind? most ended up being pip traders)
While this is disappointing in terms of our current share price, we maintain a strong belief and confidence in the Company’s technology and business plans that will deliver EPS accretive transactions and as a result I expect our share price to follow our business growth curve for the benefit of all shareholders. We look forward to delivering news on our progress in the weeks and months ahead.
firstly. what growth curve? you never ever released any growth curves to the public domain!! bloody god dam honestly do they even have a comms guy in LWP? And obviously. ziltch, nada, zip, nothing in terms of progress reports or news other than HOLD ON TIGHT, we sent the propants on the back of a turtle to a testing company that was super busy and couldn't touch our product for 3 months.
"The tests returned a compressive strength of 15,000 psi (pounds per square inch), which is significantly higher than the 4,000 psi standard ISO threshold for achieving less than 10% fines. This was a best ever result for the Ecopropp proppant and equated to only 3.2% of the Ecopropp proppant being converted to fines at 10,000 PSI, which eclipses the ISO 3502-2 standard. "
The LWP flyash proppants produced in Brisbane will then be validated by third party experts. We are confident the results will be, at a minimum, equal to the proppant results produced in our laboratory environment using our patented technology process. Commercialisation can then commence in earnest, and we intend to expand the executive team to accelerate current and new commercialisation opportunities. Comprehensive planning for conversion of the Indian manufacturing plant from batch processing to a 24/7 operation will commence shortly, with discussions with our JV partners underway. Our strategic focus is on North America, which currently represents about 87% of the world’s market for proppants. To that end, we have been in discussions with multiple potential JV partners in this region. Specifically, preliminary due diligence has commenced with a potential licensee located in a leading shale oil producing state in the USA. The location has been identified by independent expert reports with potential feedstock sources identified. Potential feedstock analysis is now underway to ensure best source for production of LWP flyash proppants. Further, ongoing discussions are taking place in China, where we believe dormant manufacturing facilities have the potential to offer opportunistic acquisitions at cents-in-the-dollar valuation relative to replacement costs.
Total bullshit. ZERO information for 6 months about any of this.
We were astounded and overjoyed with the support we have received from both current large shareholders and many new large institutional investors and would like to thank EAS Advisors in particular for their assistance
THANKS EAS for the WORST, SHITTEST instos and shareholders
In addition Mr Corbin will be entitled to earn additional monetary bonuses in the form of Short Term Incentive opportunities, which are linked to a range of Key Performance Indicators.
Can we deduct half his salary, since we all have also halfed our LWP investments?
"Global Energy Laboratories" TESTED BOTH BATCHES?! how the * did we get such varying results?
