They have already purchased a recyling business prior to the pre IPO funding which is already profitable & secured e-waste supplies.
The pre IPO funding was for one plant to extract the precious metals & fund IPO.
Each plant costs $7.4m (inc licence fee) & is forecast to return an EBITDA of $10.7m p.a. from the precious metals excluding other recoveries & tipping fees.
Have exclusive rights to multiple jurisdictions & others open on non exclusive basis, so massive opportunity to scale up.
1 of only 4 Australian companies with E-waste stewardship licence.
2nd plant planned Q3 21 & have at least 6 in Australia by Q4 2022.
The IPO price is expected to be 20c, EPS from one plant is 4c.
Financials are pretty impressive if they can execute.
I'd definitely take a look at the prospectus when it's lodged.
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