Good question @investbest. Powder production is equivalent to owning the razor blade company where you can virtually give away the blade- holder but sell the blades for a significant recurring income. I heard Budge talk about the powder production process once where the claims were that the existing processes gave a yields of less than 20% whereas their process would give a yield of some 90%. Be disappointed if the IP for this has gone out the door with him.
I actually feel a bit sorry for David Budge - it has crumbled all around him. Top effort in implementing his vision a few years ago - and it will - fortunately for us shareholders - become an an excellent story - really all due to him. But just another example of why you keep the lab coat out of the CEO role. Given his undoubted technical talent I was a little surprised it took him so long to realize that he was slowly but surely stuffing up the running of the Company.
I wish him all the best for his next endeavor as he will be surely the better off with this recent experience.
redgum
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