1. Trial plant. 2. Full Size Plant. 3. Global Rollout.
Stage 1 proved the tech works in a small scall operation, and gave confidence to build the full size plant.
Stage 2 is to prove the tech works at a full size plant scale. This stage is to give confidence for the overseas plants. Stage 2 takes all the Salt slag from Australia (hence the involvement from SIMS and Alcoa).
Stage 3 is where the money is made for shareholders (actually the transition period between 2 and 3). Alcoa realise how big this problem is, and have been working with MHM directors for many years.
Have a read of the latest Annual Report. It explains a lot and is a very good read.
About other players, yes, it is a major issue around the world, and I can't see the other majors sitting on their hands. MHM are smart though, as whilst they are working with Alcoa, it is not exclusive, and MHM have the ability to work with other AL players.
As far as the Rollout goes, this is why they are working with Alcoa. MHM have the tech, and Alcoa have the plants and the resources.
As far as sell funding the exploration activities.... when you do your research about the Silica Division, and realise MHM is in talks with Silica majors such as Wacker (Germany) to build a $500m silica smelter in Tasmania, you get to understand that MHM is not a one trick pony.
MHM Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
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