Ann: Quarterly Activities Report - December Quart, page-25

re: Ann: Quarterly Activities Report - Decemb... Absolutely agree L7C.
The poker match in play has been mentioned in a few emails this morning between like minded investors.
I feel that Phil is playing his cards close to his chest until he has the hand he wants, ie the FR deal all signed, and a contract with Alcoa on favourable terms.
It did seem that Phil Thick was pushing all negatives whilst negotiating with Frank & co, to add that little bit of pressure, and am so confident that he is doing so again to gain maximum rates from Alcoa, that I topped up a little this morning.

The process works, albeit with bottle necks.
The NMP is no real issue as it can be shipped up the road to the cement plant if we want to give it away.
The filter I suspect is not needed as much due to improvements in the process, and to spend a million dollars to do 300T a week plus in arrears and landfill seems unneccesary, as we can process at the current rates for 12 months and virtually clear the back log, which would leave the landfill.
Leaving us with an expensive component that allows us to process ahuge amount more than we would need at that time.

The big issue is can we make money.

I have always maintained that if we can make the process reliable and is cheaper than the next best alternative, then the company is a takeover target.
If we lose less money per ton than say Befesa costs then they would be a potential suitor to get them access into the States.

As was said at the AGM by Phil Thick, a large company was reportedly circling like buzzards as they desperately want into the states, but their own process is too dear.

Can we get it reliable and duplicatable before we need more cash.
I have punted we can.