RE:RE:RE:Took some I see it differently. RGX is 100% responsible for the capex on all modules. Davis is responsible for the costs to collect, transport and crush crush the catalytic converters and extract the black mass. The JV is responsible for the cost to buy the used CCs and the conversion of black mass to precious metals.
The signing parties will immediately form a new company to be called PGM Renewal LLC with Mineworx USA having a 55% equity position and Davis owning 45%.
Mineworx will be responsible for providing its technologies and processes under the Joint Operating Agreement and Davis will be responsible for supply chain management and material preparation of diesel catalytic converters.
BigGrayCat wrote: Several items regarding the 4 modules, financing, etc.
First, I believe module 1 was 100% paid for the RegenX. It is my understanding that once commercialization is proven with module 1, then Davis will reimburse for their 45% share of module 1.
Second, I believe it is their hope/intent to build-out modules 2-4 at the same time. This will require some form of financing. Greg has indicated that it would be a more traditional financing, which I assume indicates debt as opposed to share dilution. This should be 45% Davis.
Their hope/intent to build-out the other 3 modules is bullish in my opinion. To me, it indicates they are quite optimistic of revenue/profit given the data they have available to them.