I like your optimism Rod, but the reality is that Alreco only...

I like your optimism Rod, but the reality is that Alreco only just turns a tiny profit currently and that's with the tolling fees from Alcoa. Even if the landfill is full of pure salt slag and easy to churn through the plant what profit can they expect to make? The company never divulged the cost per ton processed and we never bought the crystalliser making salt throughput more challenging.

So currently aluminium is 90cent US per pound, 2200 (ish) pounds per tonne and from memory maximum 20% aluminium from slag gives 2200x90x0.25 = $495 US we'll convert it 1:1 to Aussie as reclaimed Aluminium in an unrolled/unfinished form like this gets less on market than ingots. Salt goes for $50 tonne, what's the NMP worth? being generous we'll say $100 per ton. So in total depending on ratio's produced and having been generous with the percent of aluminium and market price of NMP, Alreco will be very lucky to get $600 per ton from the recovered material.

From that they have to pay wages, energy costs, digging the stuff up, the constant repairs to the circuit from the 'very harsh environment' the process creates. Even then the landfill is a finite resource.

Also remember the feasibility studies they did in the US looking at landfills, granted they were often mixed use, but MHM decided it wouldn't be economic to 'mine' them for reprocessing.

I agree with Firsova, the small number of shares on issue makes this a good target for use as a 'shell' or reverse takeover of a related business, that way the tax losses MHM have accumulated have some real value. Definitely a hold if you have stock, but I don't think the companies future lies with Alreco at this stage, happy to be wrong, plenty of people here deserved to be so much better treated than they have been. Good luck.