Re: Timminco
By now everyone has probably read about the Timminco story and it's eventual failure.
The author of the article suggests evidence of misrepresention and that Timminco was essentially a pump&dump.
https://www.theglobeandmail.com/report-on-business/rob-magazine/timminco-how-eric-sprott-got-solar-burn/article4502829/
When something doesn't quite make sense, follow the money !!
The operations that was originally responsible for the 3.5 billion market cap was eventually sold to Grupo FerroAtlantica SA for 2.7 million.
If Timminco's refinining process was fraudulent then why did Grupo FerroAtlantica SA purchase the process equipment ?
Apparently Grupo FerroAtlantica SA made some equipment modifications but this is how GFA describes the final product from the liquidated Timminco equipment.
"In addition to being a environmentally friendly process with lower specific energy consumption, the total cost of FerroSolar's solar grade silicon is much lower then the polysilicon process."
"FerroSolar has the best solar grade silicone available by a metallerical process and this allows it's use as 100% feedstock to produce solar wafers without blending it with other materials. "
https://ferroatlantica.es/products/solar-grade-silicon/?lang=en
Honestly, I believe Timminco had the goods but because of it's disruptive nature, the business model was probably sabotaged through inexperience.
The Timminco story is an unforunate example of capitalism as is scapegoating successful investors with biased journalism.
As with any successful business there will always be snakes in the grass.
For those still doubting the success of GGI... just follow the money.
All the best in the New Year !!
Merry Xmas
Sauli