re: Ann: IDM to Ship 11,000 Tons of SpheriChr...
I think they are just talking about another shipment of this size to China by the end of the year.
Management have said that the U.S., Mexico and Brazil will be the key markets. It should be noted that the U.S. is the largest user of foundry products in the world.
As for the 11,000t in 5 months. The large fixes started in Jan and production would have been intermitten, so its probably about right. But I do think they would be very close now and we should hear some very positive commentary in the next quarter, from a production and financial perspective.
Dejavoo, you will need to add the 5,000t of Zircon at $2,000t. They would also be spitting out a heap of ilmenite bound for Prince Minerals and could quite possibly be close to having the garnet circuit running, but they havent spoken a lot about that, so that may be a work in progress. (It has quite different properties to the other three when processing).
Dubspec, if the agent in China is taking 11,000t, i would suspect they would have done a fair bit of testing with their clients (and knowing how new products like this come to market, the miner would have borne all the costs - not the agent).
For me, I think the commentary earlier this month from one of the largest U.S. foundries about it replacing their current sands with Spherichrome. If they make inroads into this market, we wont need to worry about China.
Pep
IDM Price at posting:
7.5¢ Sentiment: None Disclosure: Held
