Hey Whatsamadoovie,right - covid is a ongoing pain and some...

Hey Whatsamadoovie,

right - covid is a ongoing pain and some governments make it even worse. In principle in Europe the industry is up and running but the social life is frozen. I have no problem if ALT & Steel Blue delay the introduction of their new products, but there is a agreed min. volume to take and I expect them to do so. That's what I hope see in a Quarterly ;-) The constant false information in regards to the release date (pools/boots) is unnecessary.

In regards to NewGen the latest presentation of WG answered a lot. In an earlier presentation of WG I already got the impression he was not so happy about NewGen. In this one things got even clearer, the mining companies wanna go ahead but the price negotiations with NewGen are slowing things down. Hopefully NewGen has no exclusive rights (?) maybe a 2nd player will speed things up, otherwise overseas...

From the current presentation, I got the impression that the Kainos process development was not so successful as hoped, seems they need more time to overcome some issues. In principle they should know it already - from memory the Kainos process research/development funding by InnovateUK terminates at the start/end of April.

Also TPR2 seems not to be working anymore on firestop, at least WG did not mention them. What would be weird as they sold their own fire retardant product line in 2019 and I thought that's really something where FGR is close to commercialization.

All in all I think WG thought in 2019 he can sell 5-10t to ALT & Steel Blue and 10t to NewGen. Due to the delay in getting the license they probably missed the window to introduce new products (ALT/Steel Blue) for that year. Additionally NewGen want a higher price than Rio & Co is willing to pay... After that covid appeared and now we are where we are... The question is what is holding up the other 70 or 100 potential customers? And the question is if TPR2 is not working on firestop anymore why (its cheaper and better)? Also what's up with the non-disclosed malaysian rubber processor? covid is here true, but the world stands not still.

Cheers