Catalytic Convertor Plant CapexI combed through the MWX financial statements from 2020 & 2021 to try and pull out an estimate of what the PGM plant has cost to date. If you include all direct catalytic convertor plant costs mentioned plus about half of all MWX administrative type costs, the total works out to just under $3 MM. The breakdown is as follows:
- $308K Consulting/planning
- $110K Legal Fees
- $565K Project costs
- $55K Travel costs (allocation)
- $623K Equipment (mostly direct cc plant costs)
- $144K Lab equipment (allocation, could be a bit high)
- $100K IR fees (allocation)
- $61K Interest (allocation)
- $850 Mgmt & Employees (Allocation, ~1/2 of annual MWX)
- $160 Dep./Amort. (allocation)
$2.98 MM +/- PGM Plant Total
These include up to the latest Q3 2021 financial statements on SEDAR. I then estimated what the Q4 cost might be, based on historical trends and from the news releases to account for where the project was at. I do expect the set-up and commissioning/testing phase of the plant to cost another $100 - 150K+. We should see a significant reduction of capital costs going forward and a subsequent increase in operating costs as the plant comes online.
Its unclear as to what capex costs Davis Recycling Inc might add to these. Likely additional building, land, other infrastructure and permit expenses to house the new plant ($1-2 MM maybe?). Davis is a private company. It is also unclear if we will get detailed access to any financial data from the new PGM Renewal LLC.