RE:Radian Serves & Services several Middle East SmeltersLet's collect the US$8M payment by the end of June this year, as "expected".
It would be about time that a small company challenged to keep its doors open collects an outstanding debt of some CDN $10.5 million from one of the biggest players in the aluminum industry that is supposedly already benefitting from the equipment it had been supplied. A huge mutlinational withholding a payment because it is exploring other business opportunities to make money is the weirdest thing I have ever heard. But that is the explanation here and while trying to collect a debt owing, there is a dangling of additional future business.
If this money is not collected by the end of June as the company expects after so much time and on the basis of the solid discussions it is having, wonder what we are to think of so many other things out there were the commitments are far from something like accounts receivables that are effectively backed up by a delivered part of a contract.
Collection of the $10.5 million payment would be the most significant thing that PYR would have achieved over the last couple of year IMO. All the current sales carry such a small gross margin that this cash would be equivalent to some $40 million in sales.