NRZ: their price jumped from .002-.005 to 1.3 cents now.
They have their own lignite and are building the infrastructure to produce urea fertilisier.
I'll copy and paste what has happened with NRZ so everyone can compare it with what ECT is doing re 'offtakes' & finance etc because it's the same course.
( Sayiing you have a sales agreement with Samsung does carry a bit more weight than some new business called ESG though).
Extracts form ASX
April 24 NRZ has $2 Million in Cash
but committed to Leaseback at known Terms
Partnership with Samsung C&T
On 6 February 2024,
the Company announced the
signing of a term sheet
for the negotiation in good faith of a Sales and Marketing agreement with Samsung for the Australian urea market. The intention of the term sheet is for both parties to sign a definitive agreement regarding the marketing by and sale t
o Samsung of up to 100,000 tonnes per year of urea from the NRUP, which could be increased to up to 300,000 tonnes per year.
As detailed in this announcement, the term sheet is NRZ's first collaboration with Samsung with the potential for additional collaborations in the future.
On 21 February 2024,
the Company noted a possible early urea distribution arrangement between NRZ and the reputable international trader where the parties were discussing the purchase and
resale of a substantial initial shipment of urea,
which would be profitable for both parties. As these discussions are at an early stage, a formal agreement may not eventuate. These discussions are ongoing, and NRZ continues to investigate
potential buyers and storage and transport details to determine suitability.
NRUP Stage 2 Operations and Project Update
NeuRizer continues to work with the Engineering and Procurement contractor and partner (DL E&C Co Ltd - DL) on the
Bankable Feasibility Study.
NeuRizer announced on 21 February 202
4 that it had agreed with DL to change the manner of contracting for the NRUP, resulting in further work being required for a satisfactory feasibility study to be completed
The Company continues to work on potential strategic transactions (refer above and ASX release dated 15 April 2024) with the aim of generating positive cash flows. If successful,this will enable the Company to meet its obligations with DL.
(20min delay)