Interesting wishlist that you have put together. The silence for the last few months has been deafening to say the least. I agree with what you have wished for and it would be nice to see it in the report but I would not hold my breath to see very much of it unfortunately.
The court case while interesting and could, might, maybe bring in some much needed capital it is only of passing interest to me as it does not indicate whether the company is a long term viable proposition. I also think this will drag on for a long time and I often wonder how much $ value will be left after the lawyers get their cut. Having been through this process I wound up with a big legal bill as all value in the assets was gone after two years of going back and forwards to court and the person declared bankruptcy on the day of the decision (and went back into business the next day!!).
My interest is in the profitability for the last quarter. If the problems in the plant have not been solved and the losses continue then I think the cash will run out before we can 'prove' the process and get over to the US and set up the plant. A long time ago I was told that at least US$20m would be required for the plant as it would need to process the salt without the ponds as the weather was not conducive to evaporation in that part of the world. I believe this piece of machinery would be around $8m on its own.
I would like to see what progress (in real numbers) they have made with the sale of the AL80, weekly average production numbers, a firm indication if they are still able to get at the landfill and if they have found another source of material to process in Aust.
MHM Price at posting:
2.1¢ Sentiment: None Disclosure: Held
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