GREY:ARGEF - Post by User
Post by
billr861on Jun 18, 2018 1:04pm
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Post# 28186727
Q & A off 8020
Q & A off 8020Q.....With all these changes to the Tech Center, how many $ is the company expecting it to cost to build the project now? Do we still have that 70-80% of the original anticipated $11M that Mazen announced back in Nov 17?
A....Thank you for your question, Bill R. A lot of things have changed since last November! As you might have noticed, the proposed size for the Technology center has been increased so to increase the volume produced to 5,000 tonnes/per year. This level of production will allow the Technology center to be break-even once it is well set-up and stabilised. In fact, this higher production volume will bring higher marginal revenues that will allow us to compensate for the operating costs, which would’t have been the case with a Tech Center of a smaller size. Consequently, we are now planning a completely different scenario than what we were planning last Fall, which will obviously be more expensive but will bring value earlier in Argex’s development path. For the moment, we have not disclosed any other financials related to the Technology Center and unfortunately, I can not provide additional information on the subject at this time. Hope it answers your question!
So no response to the question about still being in possession of the $8M....hmmmmm.