government grants and incentives, page-35

Tyler max

That would be very disapointing .

My current val;uation on MHM is

Geelong $10m -$40m

The range is dependant on getting the plant at capacity in this quarter , which it should , seeing the AL80 business leave port and get paid for , and then see alreco sign long term deals with Sims and Alcoa to ensure theri longevity now most of the capital has been spent

If theat all occurs and the 8m profit is coming through once you repay all the set up costs , a pe of 5 is reasonable ie the $40m market cap

Silica

The most I could allocate would be $2m to $15m

2 with silence, and up to $15 i @nntand signing off on the deals with sims that have expirn the next 12 months if the conmopany starts doing things quickly to get it in to funded JV

Gold

NIL -5m

USA

At present using my numbers for the more advanced businesses , at the top end that adds up to $60m PLUS the USA

So to justify a $50m cuurrent value for mhm get the $1m or even $5m to assist funding a $25m build and land purchase , it is hard to see just how they can fund it from current reserves or gain access to such high levels of debt.

My best guess is they have $6m left , and need at lease another $20m

I dont think they can wait till the options are due to get the money and with all of the delays and mistakes made on geelong a banker couldnt br sure their forecasts would be bankable

The trials to date failed in that the initial trial to treat exisating landfill failed, so this news conference is really critical , and as they are so confident the only thing i can think would work is along the lines of my previous post , the govt buys the land and leases it back to them cheaply,

The govt also provides low rate draw down funding with milestones needing to be met to build ther plant

If this happens the current 6m cash is sufficient , no CR needed , and a plant and land is in place with gov support

Anything differernt and as I said i think the SP willl be clobbered as their is just to much current premium in all of the known numbers