Its healthy to be cynical IMO. But I'm more positive than you about this progress report, for a couple of reasons: 1. It does confirm that whilst the (now patented) foam separation technology has advanced from being a 'succes in trials from a technology point of view' to now having progressed successfully to a 'simple' engineering design point of view, with both low capex and opex parameters confirmed. That is critical from a competitive point of view.
2. The CEO remark: "EGL’s Chief Executive Officer Mr Jason Dixon said, “We are very pleased to have been able to develop a low-cost solution for our clients that will enable a great environmental outcome, and we look forward to supplying our first plant”. " I read in that there is already at least one potential customer, and thus we've possibly got a couple of months wait for a big announcement!
EGL Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held
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