IMO they haven't gone for that much funding, from the announcement it says it's to be used to build a refinery and recycling pilot/demo plant, more R&D, feasibility studies and capacity building (building out the JV company with more hires?) so I would be expecting anywhere from $10-30M as a completely rough guess. Remembering as well that this is a 50/50 JV with VMM, regardless, it shows that Brazil mean business and are willing to put their money where their mouth is.
Now, knowing that the joint venture has the foot in the door and the ability to scale up as soon as Brazil are confident to throw around more money, I would be extremely surprised if this doesn't eventuate into a long lasting, successful partnership that executes on Tim's initial vision from when the JV was formed (only 14 months ago). The technology at least for the recycling has already been demonstrated at Belfast.
This announcement could arguably be labelled as much of a turning point as the upcoming Belfast funding IMO. really exciting few weeks and months ahead - hopefully the UK pull their finger out of their ass ASAP and get the ball rolling!
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)