With all due respect, unless there is a type in the article, this isn't really even newsworthy. It says the tech will recycle 20,000 tonnes per, as this is purely oil, the revenues would only generate at about $14m (at $60 / barrel). IGE can sell at a higher price as they are already producing refined (ie. road ready) fuel. The new tech would need to sell back into the refining market, whether they would find many buyers I'm not sure.
IGE's margins should be impacted favourably by the lack of refining required and they have also been smart with location choices, as in their distribution costs will be low.
I acknowledge the issues around timelines and the BOD's and I would hope that the BOD's would identify this as a major area of focus. IMO they are naive and provide expected timelines without identifying risk. As most investors know, most prefer BOD's that under sell and over deliver however directors that aren't that savvy with the market and are mainly product focused rather than IR focused tend to provide overly ambitious dates. They need to hire a much better IR firm to control what is produced by the company and mitigate timing risk somewhat with market communications.
IGE Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
