Yep given the current rate of exchange with the dollar, looks impressive on paper! Around $4.5 to $5 million (Aust) per month. Appears that the Company is hell bent on not doing share dilution through a capital raising but using Ropren sales for funding which is magnificent. (Vagif's comments) Bear in mind this is also taking place: Formal documents confirming Solagran’s participation in the Tomsk Special Economic Zone with its many benefits including an attractive concessional tax regime are still expected to be signed by the Russian Prime Minister in October. However the company has now received documentation from the SEZ authority that will enable the Russian end of its international corporate structure to be finalised. Implementation has begun and Solagran’s advisors have indicated the entire structure should be operational within eight weeks. Solagran’s Director of Russian Operations, Mr Charles Pellegrino, departed yesterday for Russia to sign off on the production plan, complete certain formalities in relation to the corporate structure, and finalise arrangements for Ropren® distribution. The Directors hope to finalise all remaining matters related to Ropren® distribution in Russia during Mr Pellegrino’s current trip. They are also confident that both the demand and the price per course in Russia will match or exceed the levels indicated at the shareholder meeting on 3 September.
SLA Price at posting:
31.9¢ Sentiment: LT Buy Disclosure: Held
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