Just read a couple of the articles on the IDM website. very interesting indeed and shows the extraordinary potential of this little stock.
As i read it in the articles (please correct me if I'm wrong), Chromite with some refining can be turned into ferrochrome and chromium. in the main it is the miners of the chromite ore who, using electric furnaces, produce the vaue added products.
" Over the past several years, this has led to the increased production of chromite by vertically integrated producers, i.e., chromite mines that also own and operate chromium chemical, ferrochromium and chromite refractory producers"
the refined products go on to sell for between US$4,000 and $13,000 per tonne - a multiple of the original $500/tonne in IDM forecasts.
I guess the questions are:
is this possible for IDM? how much is an electic furnace? how many tonnes of Chromite does it take to make the refined products and at what cost?
We only got funding this week so i dont want to get carried away but if there is merit in the articles and presumably there is since they are on the cpompanies website, then we are looking at multiples of the originally forecast revenues.
Can anyone shed some light on this?
IDM Price at posting:
11.3¢ Sentiment: Buy Disclosure: Held
