Why we invested in OrbiteWe should all try to remember why we invested in Orbite in the first place. For me I saw the huge potential this company has.
From the Orbite Website: -Game-changing technology addressing traditional inefficiencies.
-Waste monetization: turning liabilities into assets.
-Orbite can address supply issues in rare earths and rare metals.
-Strong interest to collaborate from large players in the industry, such as Veolia and Glencore.
-Significant deposits of aluminous clay (> 1 billion tonnes) also containing substantial quantities of -rare earths and rare metals.
-Portfolio of high-value specialty products.
As Glenn Kelly said in the last NR:
"We are progressing well towards completion of our plant," stated Glenn Kelly, CEO of Orbite. "Though slightly longer than planned, we are nearing completion of the critical process of refractory installation, with other construction work either underway or contracts being awarded for the remaining elements of our plant. The expected $5.0 million bridge loan from Investissement Québec puts us very close to completing our HPA2-related financing requirements and we have additional options under review, such as our base shelf prospectus and asset backed debt."
That huge potential that brought me to invest in Orbite a few years ago is still very much there and we are now closer then we have ever been to making it a reality. Just have some patience.
Marc