Hopefully the fortescue trial will lead to big and better things.
Recent Significant Contract Wins
..Shell .... Secondment of HFT staff to Shell to provide product development support
..FloTeck ... Partnership to deliver friction reducing chemistries to a major US E&P producer
..Melbourne Metro ... Provision of chemistry and professional services on Melbourne Metro Tunnel
..Iluka ... 3year contract at Jacinth Ambrosia minerals sands operation
..YanCoal ... Ongoing activity within the Hunter Valley coal fields
Eramet ... Provision of chemistry and technology in New Caledonia Recent Field Validation Work
..Syncrude ... Field qualification at one of Canada's largest oil sands producers
..BHP ...... Field validation at Olympic Dam copper mine
..OZ Minerals ... Provision of chemistry for Prominent Hill copper mine
.. MMG ..... Continuous validation work with Las Bambas copper mine
.. Several producers have confirmed acceptance of SciDev’s MaxiFlox® technology to proceed to field validation which the Company anticipates will take place in the next quarter
Opportunities ..one of the worlds’ largest oilfield service companies has now also commenced full scale application of CatCheck® with a major European exploration and production (E&P) customer
.. Project discussions are advancing with projects in California, Virginia and British Columbia all focus areas for the Company.
.. Additional opportunities are also being actively pursued in Europe and Asia.
.. SciDev continues to drive organic development activities in the Water sector with several previously disclosed opportunities progressing at a reduced momentum because of COVID19 sewerage testing.
ADD Haldon Acq1uisition which could add up to $20M to the turnover next year.
Stand and Hold guys big and better things to come in the coming months!!
SciDev hoping one week trial will lead to larger Fortescue engagement
Having secured a one week trial with one of the world’s largest resource companies, water tech company SciDev (ASX: SDV) now has a foot in the door at Fortescue Metals Group (ASX: FMG) with hopes of scaling the engagement to something more long-term.
SciDev’s trial comes following a competitive tender process where Fortescue sought water treatment solutions at its Solomon Hub in the Pilbara Region of Western Australia.
While the trial is valued at $60,000 the opportunity it presents SciDev is significantly larger if the trial of their MaxiFlox® chemistry goes well.
“The agreement with Fortescue further extends the presence of SciDev chemistry and services across major mining projects in Australia,” said SciDev Managing Director, Lewis Utting.
“With water being a premium commodity in the Pilbara, SciDev’s technology can add real benefit to our customers as well as reduce their environmental footprint.
“The continued growth of SciDev and our ability to work with and service major mining companies such as Fortescue highlights the caliber of the SciDev team in executing the technical and commercial evaluations with our customers.”
Specialising in chemistry and process control for separation, SciDev already services resource companies with water treatment solutions across gas and mining sectors.
For the Quarter ending 31 December 2020, SciDev has benefited from recovery in the US Oil & Gas sector which is a core customer segment for the chemistry company. This resulted in $10.2 million in cash receipts for the Quarter which represented a 82% increase on their September Quarter impacted by COVID-19.
The Fortescue trial continues a string of recent sales opportunities created with SciDev, last month extending its relationship with ExxonMobil with a contract extension valued at USD $500k.
Cheers
M.oz
SDV Price at posting:
89.5¢ Sentiment: Buy Disclosure: Held
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