Hi all, merry ChristmasI asked a question at one of the webinars...

Hi all, merry Christmas

I asked a question at one of the webinars regarding the project to recycle heat and the answer given was this project will be timed to commence once the 2 new furnaces have consumed all the power held as inventory that has already been paid for. This makes sense to me as no point in paying the project costs until this power is used up. This should make the 2 new furnaces very profitable both for the time they are using 'free' power and later if the recycling project is successful. I am hoping the second phase of tax relief will come through soon and the money saved plus the monies from the majority sale of the china furnaces can pay for much of the 2 new furnaces. Hopefully they will announce when they are going to be constructed soon. This plus the long awaited silicon metal production could give us a boost provided pricing starts to pick up.

On the down side I am not convinced the recycling plant at Bootu will ever be profitable, it seems to be plagued with issues and maybe needs to be written off.

Enjoy Christmas and lets hope 2024 is a good one for OM