RE:UpdateNah, Romgaz is still very much on schedule and within their contract's 2-year timeline. 3400 ARTRA units over 24 months with the clock starting in Oct. 2019. They've now even added two additional testing units, for a total of 3402, lol.
The investment thesis for MRM is solid with almost unbelievable upside potential.
Way back in 2015 there was a lengthy write-up on the company describing the sensor units they were working on for Chevron:
Well-Head Real-Time Detector (WHRTD).These units can measure tracer chemicals to levels of 300 parts per trillion. The new sensors developed with Entanglement Technologies and annouced in Jan 2018 (the ARTRA-171) can detect down to 5 parts per trillion.
https://magneticsensorsolutions.com/micromem/wp-content/uploads/2015/11/RB-Milestone-Group-Initial-Research-Report-2015-1117.pdf The old WHRTD senors in the write-up were listed at $100,000/each (p.6). That was over 5 years ago and for an inferior technology. Are the ARTRA-171 sensors cheaper to manufacture? Probably. Are they still maybe more expensive because they are 60X more sensitive? Maybe. I don't know of course, but even at what I would consider a bare-minimum, worst-case scenario with the new sensors costing 90% less than the old ones ($10k vs $100k) the single Romgaz order of 3400 units would amount to a $34 Million contract which is higher than the company's entire market cap at present. Every additional $10k added to the unit purchase price increases the final contract value by another $34 Million.
These numbers may seem ludicrously high, but we're talking about an Oil & Gas company 70% state-owned by the country of Romania. $200-$300 Million to them is like me or you buying a middling Porsche 968, to reveal one of the items on my to-do list once this thing blows, haha.
And this doesn't factor in Chevron, a company whose 2019 revenue ($150B USD) amounts to around 60% of Romania's entire 2019 GDP ($250B USD).
Even at the extremely conservative price of $10k per ARTRA unit and ONLY considering the Romgaz contract, Micromem is easily a 10-bagger or more from here, with one caveat...
Patience required.
Whatsup wrote: more smoke and mirrors