PEV pepper residential securities trust no.28

feet of clay ?

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    963 Posts.
    This is a quiet thread. I bought some of these at 1.4. I thought they were cheap on an historical basis and they had what sounded like good people and gear. It appears theyre making next to know sales of Bentonite after having the mine open around a year. Im guessing the purchase of the waste water business is at least partly to create a market for the clay? Aparently calcium bentonite can be converted into sodium bentonite by ion exchange. They use sodium carbonate in this process. Is this why they invested in the sodium bicarbonate mine? It seems to me sodium bentonite is a more widely used product than calcium bentonite. Supposedly the bentonite is good qaulity, but does this give them a competitive advantage? The lack of sales would suggest not. Ive read it sells for $100/ton seems a lot especially if theyre marketing it as a fertilizer. With Lime they strip off overburden, blast it, cart it to a primary crusher then they crush it againt and finally store it under cover for around $20/ton in my area.( its reasonably good agricultural lime). Theres been some director buying but it looks like a token jesture more than anything. Its disapointing the quarterly gave no indication of why there hadnt been any sales and if an improvement was iminent. The lack of information, in my opinion, suggests things arent going well and we cant hope for an improvement in the near term. I may try and contact the company and get some information, if I am sucessful I will post it here. Some of my facts/interpretations could be wrong feel free to put me right.
 
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