RE:Rod burnerAs usual most of you are really out to lunch on both the timelines of this so-called Ketchikan project , as well as both the funding and potential actual profits. The poster Chris on here (who I happen to know is paid by Ucore) is not helping matters.
Lets just pretend for a moment that Ucore actually does get a part of a $30 MM grant. All government grants cannot be used for anything but the actual project itself. Most grants have to be matched equally by the company involved. Furthermore they also take a while to transpire. I'd say at least another year at a minimum becuase thats how long it would take to get all the approvals at all the goverment committees and then legislatures. COntract drawn up, lawyering , etc. So lets say they get this in about two years time.
1) It will be well past the IBC merger monies needed.
2) The funds cannot be used for anything but project design and engineering ( not an IBC purchase or working capital)
3) Grants are released in tranches as each step laid out in very specific guidelines are reached. Usually a few million at a time.
4) The FEED 1 and FEED 2 studies are required and take at least 8-12 months each.
5) A commercial plant takes another 2-3 years to build.
6) Ucore needs their own cash all along the way and it cannot be taken from grant money.
Now lets say the plant is built. Where doesn the feedstock come from. I think we all know the whole PLS / oil sands thing was just another ruse. Its now dead in the water , which is why you have heard nothing more from it. I'll let Ausheds handle this one. You need feedstock from somewhere and it will not be Bokan....still very uneconomic.
Then , if you ever get feedstock, you have to produce a product that the market is not alread in serious oversupply or there will be no one to sell it too and margins would be thin to none.
At the end of the day you are all looking through rose colored glasses and have no idea of how long and how many serious challenges Ucore would have to overcome to even have the remotest chance at success.
Right now the stock trades at a $80 MM market cap. It currently has essentailly nothing but a dream on paper. Even a $30 MM grant would still make this still 50% overvalued. It will be 100% for sure diluted several times along the way at prices likely lower than .20 cents. Basically an extremely high risk investment at this share price.
I sold at around .25 cents.Bought Ianthis at $3. Its now $6.35. Bought TIC at .88-.95 and its now .80. Doubled my money on TGOD and am out. Bottom line is your dead money for the next four year. You'd be better off coming back to this name in a couple of years at cheaper prices and taking a second look . BWT...Why does IBC even need Ucore ? I bet they walk once they don't get paid and go it on their own, maybe take this thing out in bankrutcy. All IMHO.