US / CDN - EHHHGood Morning All,
Just a thought from yesterday's NR. Info as follows:
PyroGenesis says all is well despite share price dip
2020-07-09 14:56 ET - News Release
Mr. Peter Pascali reports
PYROGENESIS COMMENTS ON RECENT TRADING ACTIVITY; PROVIDES MILITARY UPDATE
Further to previous announcements, the company is pleased to confirm that all terms and conditions for two PyroGenesis waste destruction systems, for the U.S. Navy's two-ship build, have been agreed to for approximately $11.5-million. The formal agreement is expected to be signed within the next two to three weeks and includes a first payment of approximately $4-million. This project should be completed within 18 months. With this additional contract in hand, the resulting backlog is expected to be in excess of $40-million.
I highlighted the amounts from the USA Navy contract biz for a simple reason. Being US biz, it may very well be stated that the contract is in US funds. Thus the $ 11.5M would be approx. $ 15.64 M CDN, while the $ 4M would be approx. $ 5.44 M as first payment.
Serious food for thought.
Ya'll got to Love the morphing of PYR going to Blue Chip, in Short order. :):):)
Best wishes All, good health,
Good Fortune,
Sincerely,
Topseeker