RE:Wonderful.Split - This is very interesting JV development program with the BBT. Considering the ScanMag JV started almost three years ago with limited results, and no payments NVM ($2M initial payment, monthly payements), one needs to ask questions as to why the ScanMag JV has spiraled downwards to publicly displayed business spat? How is the new arrangement with BBT going to be any better? Will it contractually include ScanMag?
So, here is your homework should you care about your investmnet (assuming you have shares in NVM). Ask the CEO of NVM for the following:
1) a copy of the authored test case plan that itemizes every test case that was conducted on the alternative reductant?
2) a copy of the report detailing the findings from excuting the test case plan.
3) a copy of the "University of Colorado" invoice for the service fees in conducting the testing
4) a copy of the bank statement verifying payment to UofC.
to demonstrate share holder value. As per the press releases and company Web site, NVM employs a Professional Engineer (P. Eng) that should be well acquainted with engineeering (process, ISO) and metallurgical practices in validating material to be used in commerical/industrial setting. It's that simple.
Of course they can take the RJ RRE approach and throw a mysterious NDA in your face. At which point ask to see the NDA (good luck) or sign a NDA to look at the above four documents. The invoice and payment statement should not be subject to a NDA. Unless BBT actually paid for the "alternative reductant" testing conducted by the UofC.
In light of this new arrangement with BBT, and given NVM employees a P. Eng., what is the business plan (project plan, deliverables, dates, risk assessmnet, costs, burn rate, resources, funding resources) in delivering this new Mg refining process to the commerization stage: Or this all covered under a NDA.
So don't be surprised if you here the following two statements from the company and promoters:
1) "If you don't like your investment [RRE] then sell your shares and move on".This one is my favourite when spoke by an employee of the company.
2) "We can't disclose any information becuase it's covred under a NDA contract". They'll use this to cover the most benign of information.
If the NVM executive team can't put a high level business plan on the Web site, with P/F/A dates, I would reframe from investing any further money in ths "never ending story" company.
If walks like a duck, quacks like a duck ... it's a RRE duck. In the case of RRE under RJ, high indirect to direct cost ratio, name dropping, high profile advisary team members, one employed engineer, NDA shielding and one employed engineer.
I predict the BBT JV will take another 3 years with no commerialization.