And rhe CEO Xmas present to all the shareholders is a not warm and fuzzy .
Nov 23 rd
The aim of the first process improvement test is to confirm that the GEN3 QRR can generate the carbothermic reaction needed to produce Silicon. Once the test is completed, the Pilot Plant will be cooled down to allow for a visual inspection. This inspection includes examining all important components of the reactor and the collection of wear and tear data. Once inspection is completed, and all systems are given a “pass”; the Pilot Plant will then be prepared for the next series of tests.
Dec 7th 2022 the company released
REACTOR BEING INSPECTED AND PREPARED FOR NEXT PROCESS IMPROVEMENT TEST
All important components of the Pilot Plant reactor are being inspected and critical wear and tear data collected. Once the inspection is complete, and all systems are given a “pass”; the Pilot Plant will then, again, be prepared for the next series of tests.
I posted the following on the 21st , Tourillions response was completely unacceptable but no surprise , IMHO in short NO NEWS IS NOT GOOD NEWS
The previous schedules have not been met and now it appears they will now remain silent . Tourillion and Pascali are anything but opposed to news releases
Judge for yourself by It appears to me the machine has not be restarted since the DEC 7th inspection and IMHO there may be serious issues with the operation or design " and the purity could be well below expected.
There is now no longer going to be "tests" but 6 months of "testing" and based on the history of company timelines I wouldnt expect that to stick . Remember Sept 2018
Good Morning
Can you confirm when the QRR will be restarted for the next phase . Will you restart prior to holidays or wait until the New Year?
Did the inspection after the last test find any issues that will delay a restart and require parts replacements or design change and if so when can the investors expect the tests to resume.
If there is any further delay in the published timeline will you be providing the investors with an updated schedule.
Again can you please advise investors with the the purity level of the silicon that was produced in the first test.
And the Response... Decide for yourself if acceptable response to shareholders
Sir,
Please find in red in your text my replies to your queries.
Good Morning
Can you confirm when the QRR will be restarted for the next phase? Will you restart prior to the holidays or wait until the New Year?
Naturally, is it normal to assume that no testing will be ongoing during the holiday period, but since the pilot plant testing is ongoing, and will be so for the foreseeable future, there is nothing really to talk about restarting the QRR.
Since there are still 6 months of testing planned, we have reached a point where we will not be talking about individual tests anymore.
Unsurprisingly, we will keep investors appraise when what we consider, project milestones are achieved.
Did the inspection after the last test find any issues that will delay a restart and require parts replacements or design change and if so when can the investors expect the tests to resume.
The inspection of the equipment is an integral part of the ongoing testing, so as I have previously stated, there are still 6 months of testing planned, so we will not be talking about individual tests anymore.
Rest assured that if an event occurred that would seriously impact our testing schedule, we would communicate that information.
If there is any further delay in the published timeline, will you be providing the investors with an updated schedule?
All our timelines are indicative in nature, so part of our forward-looking disclosure, and treated as such by us. In the past, we normally update our Indicative timelines when we update our investor deck, and we don’t see any reason to change that.
Again, can you please advise investors with the purity level of the silicon that was produced in the first test.
As we are just starting our testing program, the purity of the silicon produced is not yet an issue that we are looking at too much. In fact, in line with industry standards, we expect this to become an issue toward the end of the testing program.
I must say that I am surprised by your obsession with that question, I am pretty certain that I have never claimed that we would it our purity targets during the first tests.
Regards
Bernard Tourillon