ESI has a vauluation on the Coldry process of $80 million, as far as I am awatre this didnot include the matmor process, and was done over a year ago.
Given the derisking of Coldry by having ARUP and McConnell Dowell involved and the increase in thermal coal prices since then, it would be safe to assume that that valuation in 12 months should have increased by a minimum of 25%.
matmor is potentially a bigger earner for the company in that its claimed reduction in costs of production, if true , means that once confirmed , should mean a rapid roll out.
I would like to see a proper valuation done prior to the company commiting to any deals on this, as the danger is value could be given away.
matmor success, page-5
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