Found this on 9 March announcement: Capital Payback within one year from Kalimantan. Does this mean this zircon project is a lucrative positive cashflow......
OLY could be a multi-baggers..
Kalimantan Trading of zircon concentrate through Olympia’s joint venture company Sinol has continued, with increasing sales into the Chinese market. During February 700 tonnes of zircon concentrate was shipped to China and the last 300 tonnes of the 1,000 tonne contract will be shipped in March. The development of the Kalimantan processing plant is progressing well and is expected that the plant will completed on time in July and within the $3.1 million budget. The processing plant will be built on land owned by PT Olympia Resources Indonesia at Bati Bati approximately 30 km from the port at Banjarmasin in Southern Kalimantan. Several long lead items have been ordered for the processing plant including the electrostatic separators and wet separation tables as well as slurry pumps. The Kalimantan zircon processing project is expected to be highly lucrative for Olympia with first shipment of product expected to occur in the second half of calendar 2007 and a capital payback period of less than one year.
OLY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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