PyroGenesis Inc T.PYR

Alternate Symbol(s): PYRGF

PyroGenesis Inc., formerly PyroGenesis Canada Inc., is a Canada-based high-tech company. The Company is engaged in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG). The Company has created proprietary, patented and advanced plasma technologies that are used in four markets: iron ore palletization, aluminum, waste management, and additive manufacturing. It provides engineering and manufacturing expertise, contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (including 3D printing), oil and gas, and environmental industries. Its products and services include plasma atomized metal powders, aluminum and zinc dross recovery, waste management, plasma torches, and innovation/custom process development. It offers PUREVAP, which is a high purity metallurgical grade silicon and solar grade silicon from quartz.

TSX:PYR - Post by User

PyroGenesis Inc

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Comment by Sandman852on Dec 16, 2019 4:32pm

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Post# 30460794

RE:No certain who is more cluless on this one...

Kongratulation wrote: But I am guessing that is Sandman that has no experience with the LC, or does not understand the deal...

The L\C is issued to the benefit of Droisrite international... not to protect the buyer...

The issuing bank is the SAUDI bank since it is their client that is the buyer that of the system ...

The same client that signed a deal with a bigger Saudi party, that most deliver them Droisrite Systems...

Pyro cash position is not an issue in this transaction... and it was a known factor when the contract was signed...

the issuing bank is the saudi bank, that is true. However, the cost factor is no different to pyro since they have to comply with the saudi terms to get their money. And since that means the DI company is going to have to meet those conditions - which isn't Pyr - there is an issue, if these conditions are onerous. which we don't know. While it may help protect PYR it isn't foolproof, it isn't finalized and it still is costly compared to simply getting your deposit money and the balance once the product is confirmed on ship. it does show that the Saudi company isn't all that comfortable with pyr delivering on their promise.