The first dealThe release on May 19 if anyone cares to read it again states the peice below. What I get from that is for the last 40 days they have been discussing not if, but how many torches. So how long does anyone think it takes to discuss equipment supply? My guess is less then most think. Also in that press release Peter states that equipment supply talks had even begun before the first phase of modeling.
My guess is minutes to days away. just read it!
further to its press releases dated March 4th and April 30th, 2020, it has now entered into the final stages of negotiation for equipment supply with the major iron ore pelletization client (the “Client”) previously disclosed. The Client is a multi-billion-dollar international producer of iron ore pellets, one of the largest in the industry, whose name will remain confidential for competitive reasons. The Client has over 10 plants each requiring approx. 50 plasma torches.
“This is indeed a very significant development as the Client has accepted the successful completion of the first phase (“First Phase”) in the modeling contract as a basis to move forward for equipment supply,” said Mr. Peter Pascali, CEO and President of PyroGenesis. “This was not entirely unexpected as (i) the balance of the modeling contract was geared to further quantify the benefits of transitioning to plasma, and (ii) the initial stage of negotiations had already begun prior to the First Phase getting underway, and as such it served just to confirm expectations