Before I drop more hard earned into this I would like to see abit more detail from the management team specifically around use of the cash and projected ROI. i.e
Buy the Newcastle site? - $20m? How much more $'s to get it to a state of readiness? Timeframe? Time to source further feedstock - more sludge (my word!), EAF dust, other? Time to market
JV with others?
Process current stockpile of EAF dust and then Release $4.5m environ bond. How much would they get for the metals in the EAF dust on top? What is processing cost?
China? Iran? Cost & timeframe?
I know they can't answer all of this but looking forward to more detail over the next month to give me a reason to put more in. I, like many others, have seen their intial investment shrink considerably but i"ve also been a believer in what they have to offer. I like their survivor instincts and their ability to innovate. If it wasn't for the credit crunch I'm sure there would be finance partners out there willing to take a punt on what is a "high risk.. small cap... techo metallurgist... waste management.. environmental company" waiting to grow up. Perhaps tapping longer term shareholders will test their metal so tis speak! I'm in two minds and am waiting eargerly for more info.
Mad Doc
SDV Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
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