PyroGenesis Inc T.PYR

RE:RE:drosrite news is coming soon $$$

[HARJAY]

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You obviously did not see or read this  post on CEO which explains what happened and how now these payments will be forthcoming 

@helloween I must add that this from Ma'aden 2023 annual report (The Group means Ma'aden) "The Group is required to make capacity payments to the Contractor which are contingent on the annual volume of dross processed from the Plant, from the date of commencement of commercial operations of the Plant. The expected commencement date of the Plant is by 2024." explains a lot about the difficulty for Radian oil to pay PYR. Their contract with Ma'aden needed a fully operational plant (7 systems out of 7) to obtain capacity payments from Ma'aden and Ma'aden needed a "permits from the Royal Commission for Jubail and Yanbu for the construction of dross processing plant facility (the “Plant”) inside the premises of one of its subsidiaries" to authorize fully completion of the plant (100%). So Radian had to pay PYR from their own cashflow since it's a BOOT agreement without receiving any capacity payment from Ma'aden.

 

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@helloween So the commissioning of the 4 remaining systems will mean 100% completion of the plant which will trigger capacity payments from Ma'aden to Radian which will make it easier for Radian to make the remaining payments to PYR and even have new revenue for the expansion of their Dross treatment activities meaning potential new contracts for PYR.