1.Where i got the $2m figure regarding A related company of franks.
2. Where i say Befesa opersating in the US
3. Where I saw the working relationship between Alcoa and Befesa.
Hopefully people find it of some interest and we don??t just get in to another Firsova attack , trying to discredit me because I ask questions and make comments that others might not want to hear.
Supermapes your post in the LRS forum was proof of your immaturity , I don??t hope MHM drop or you lose money , but I do feel comfortable sharing an opinion , which I should be able to do without insult .
This is direct copy From Page 61 of the MHM Annual Report 2010 .
This is the reference I used to make my claim , and as stated .
$2m was paid to a company related to Frank Rogers for undertaking a plant upgrade , one assumes this includes ponds .
Even as the greatest pessimist I couldn??t imagine the pond work would be in addition to this as it doesn??t seem to appear in the half year, but would be interesting reading if the $2m in last years accounts wasn??t sufficient to get the plant upgrades completed .
During January 2010, a wholly owned subsidiary of the Company, Alreco Pty Ltd (Alreco) contracted Project .
Development Corporation controlled by Mr Frank Rogers to undertake the upgrade of the existing plant acquired as part of the Sims Metal??s aluminium processing facility to implement the new aluminium salt slag technology.
The total contracted sum of $2,000,000 was calculated in accordance with normal commercial terms. To the 30th June 2010 amounts totalling $1,850,890 had been paid by Alreco in respect to the plant upgrade and technology implementation to Project Development Corporation Pty Ltd.
Further to this there is another amount of money allocated Page 62 of the annual report ..to the same entity , cannot from this report ascertain what this is for , just like the above Factual evidence of its existence .
Aggregate amounts payable to key management personnel of the Group at balance date relating to the above types of other transactions:
Current liabilities Harden East & Conti Pty Ltd 18,769 13,751 Project Development Corporation Pty Ltd 789,030 - Pullinger Redhead Lucas - 399 807,799 14,150
This is information I extracted in regards to Abengoa working already with Alcoa , and their plans to grow in to the US a market this report states they are already working in .
April 2011 presentation from Abengoa shows they are operating in the US
They intend to grow the salt slag business in the US
They have pictures of their partners and clients ALCOA clearly amongst them
This presentation contains forward-looking statements and information relating to Abengoa that are based on the beliefs of its management as well as assumptions made and information currently available to Abengoa. ?XSuch statements reflect the current views of Abengoa with respect to future events and are subject to risks, uncertainties and assumptions. ?XMany factors could cause the actual results, performance or achievements of Abengoa to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which Abengoa does business, changes in interest rates, changes in inflation rates, changes in prices, extensive governmental regulation in a number of different jurisdictions, including stringent environmental regulation; legal challenges to regulations, subsidies and incentives that support industrial waste recycling; changes in business strategy and various other factors. ?XShould one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or targeted. ?XAbengoa does not intend, and does not assume any obligations, to update these forward-looking statements.
MHM Price at posting:
$1.17 Sentiment: Hold Disclosure: Not Held
(20min delay)