Plenty of conflation of facts and bizarre statements by the author of that article! Thankfully, EGR management can't be blamed for the misinformation contained in general media news.
The $2.9 mill is in the form of a grant from the govt for half the proposed cost of the Product Qualification Facility. The govt approved a conditional loan for up to US$40 mill for the original BAM facility (which at this stage will take the form of a 25k tpa purification plant). And, yes, free of hydrofluoric acid and not just "hinted" as such. Some of these media reports do more harm than good.
The only way for the PQF to be ready for commissioning by next year is if the approvals granted a year ago for the original version of the BAM facility still stand in some way, have undergone an amendment process and been approved or a new approval process has been successfully undertaken. There's certainly been sufficient time since alst year to have lodged an amendment. But why leave the market guessing as to the exact location? I would have thought that the smaller of the two lots at the Kwinana/Rockingham site approved is ideal. Perhaps the board don't want to cop the flack of the perception that we are back where we were a year ago.
Is clarity and transparency too much to expect of this mob? Well, at least a perception now exists that the PQF is progressing. For how long will that perception last, though, without details of the location other than its still going to be in WA?
EGR Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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