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.
