Liveforsunny it's good to ask questions and do DD. Note BW...

Liveforsunny it's good to ask questions and do DD. Note BW equities have put a most conservative SP valuation of 31c at present with the opportunity for significant uplift as the SIDRI deal comes to fruition. Most of that valuation is in fact the scandium project! It's most conservative because the scoping study was, by BW equities own accounts 'very conservative'. We also know this as they used $1500 per kg Sc (look what SCY and PGM used).

Look also for left of field developments in South America and South Africa as mentioned in the BW Equities report;

'...progressing discussions at multiple sites with large organisations in South America to treat water within the mining and food industries.'

'Advanced discussions are also underway in South Africa with partners to roll out CLQ technology in several industries.'

Heads of Agreement

The Heads of Agreement provides a stepwise approach to a collaborative partnership in China. Its key terms are as follows:

• A joint venture will be established (SIDRI 55%, CLQ 45%) on the completion of the commercial trial demonstrating the technical and commercial viability of Clean TeQ’s ion exchange technologies. The commercial trial project has been selected by the parties, with design and engineering work underway.
  
  
• At establishment of the joint venture SIDRI shall also be entitled to invest in CLQ shares through a strategic placement. The terms of the placement, including price and quantum, are to be agreed at that time.
  
  
• Key principles concerning governance and financing of the joint venture have been agreed and are reflected in the Heads of Agreement.
  
  
• The joint venture will build technical capability through the establishment of state of the art research facilities and training of its staff for servicing its projects in China. Clean TeQ personnel will provide the necessary support to build that capability.
  
  
• SIDRI and Clean TeQ shall establish a joint management team for the joint venture to identify water treatment opportunities throughout China and manage all business processes, from design to construction and operation.
  
  
• The parties will take all necessary action to protect the intellectual property of the joint venture in China and elsewhere.
  
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  Re management;
  
  As well as being Friedlands right hand man;
  
  Riggall helped negotiate the investment agreement between Rio Tinto and Mongolia to build the massive Oyu Tolgoi copper-gold project. In an earlier life, he worked as second in command in the project generation group at Rio Tinto under Sam Walsh and then Andrew Mackenzie. These men now run two of the world’s largest miners, Rio and BHP Billiton.