Details are below from the announcement you believe you were referring to. Is it in there?http://www.mhmmetals.com/_content/documents/654.pdf (By the way, posting working links is really easy)
I understand that you want to move from facts to speculation about aerial photos but this is important information relating to the credibility of the company, that you have wrong.
If there is an announcement that backs up your claim, post the link, or admit that you just post whatever you feel like.
For what its worth the bags show huge demand for MHM's services.
***********************************Details of the deal
The transaction has four components the completion of each being conditions precedent to the finalisation of the
transaction.
Acquisition of the Sims Metal Management facility and Sims Supply Contract
MHM has negotiated to acquire the Sims Aluminium Salt Slag business and underlying land for $3.0M, and
anticipates a further $2.0M will be spent on upgrades to the plant and equipment to implement the new technology.
The site is about two hectares. The purchase and upgrades will be funded by existing cash reserves and income from
operations, which will commence prior to completion of the upgrades. The purchase is conditional on the execution of
a tolling contract with Sims under which the Company will treat Aluminium Salt Slag and Aluminium Dross.
Access to Party A supply contract, Alcoa landfill and technology for Australian applications
The Australian rights to use the Technology developed by the Technology Providers is currently licensed to a joint
venture (Joint Venture) between three parties, two of which are entities controlled by Frank Rogers and Peter
Robertson (both directors of MHM). The Joint Venture has agreed to sub-licence the right to use the Technology in
Australia to the Company.
The Joint Venture has access to a landfill owned by Alcoa containing 160,000 tonnes of aluminium waste, from which
an estimated 16,000 tonnes of aluminium is expected to be recoverable. The Joint Venture is in the final stages of
negotiating a tolling contract with Party A for the processing of Aluminium Salt Slag.
The Joint Venture and MHM have executed a processing and sales agency agreement under which, in return for a fee,
MHM will process the Aluminium Salt Slag recovered from the Alcoa landfill and sell the resulting products as agent
for the Joint Venture. MHM will also perform the Joint Venture's obligations under the tolling contract with Party A
as a sub-contractor.
MHM has a pre-emptive right to acquire the interest of the Joint Venture partners, with a value to be determined by
an independent expert and subject to shareholder approval.
These agreements are co-conditional on completion of the transaction to purchase the Sims Salt Slag business.
Rights to the proprietary technology for international applications
MHM has negotiated to acquire the exclusive rights for the use of the technology for all international applications, and
must pay the Technology Providers a 5% gross income royalty for this right, subject to compliance with the Listing
Rules. The Technology Providers are entities controlled by Frank Rogers and Peter Robertson, Directors of Macquarie
Harbour Mining Limited.
This agreement is co-conditional on the completion of the transaction to purchase the Sims Salt Slag business.
Technology Due Diligence
Independent technical experts “The Carnot Group” have provided an engineering assessment of the technology, the
technological risk and its implications to the exploitation of the technology, the application of the technology to the
Sims processing plant, and confirmation of budgeted capital expenditure and operating costs. The Independent
Directors have accepted this assessment and considered it in line with their decision to proceed with the transaction.
First right of refusal for global right to two additional technologies
MHM has negotiated for the first right of refusal to acquire the exclusive global rights to two additional technologies
that treat other significant waste streams from the aluminium industry.
Non-Metallic Product (NMP) Processing Technology is a proprietary technology under development to process NMP
that results from the primary aluminium industry and from salt slag processing, and convert this NMP into
aluminium metal. In Australia over 50,000 tonnes of NMP is produced, which would produce nearly 25,000 tonnes of
aluminium metal per annum. In the USA more than 10 times the volume of NMP is produced as compared to
Australia.
Spent Pot Lining (SPL) Processing Technology is a proprietary technology under development to process SPL into
valuable commodities. SPL is a highly hazardous waste that results when the lining of the aluminium smelter pot
lines are replaced. This waste can not be placed in landfill in Australia, resulting in significant quantities being stored above ground.
Australia produces some 38,000 tonnes of SPL per annum and the technology converts SPL into
carbon, fluorine products and refractories for reuse in the aluminium industry. The revenue potential from the
treatment of SPL is substantial.
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