EnviroMetal Technologies Inc C.ETI

Competition from a former partner

[BigGrayCat]

Today, Mineworx put out the following release:
https://howardgroupinc.com/2021/07/mineworx-technology-update

After hearing from ETI that there was virtually no competition, we now learn that their former JV partner Mineworx has been working on their own formula.  Not just for the last few months, but started their lab in January 2020.  Not just for PGM reclaimation in CC recycling, but also for gold recovery for mining and their solution is "eco-friendly and recyclable".

I own both companies, but am much more heavily invested in ETI.  My initial take on this new information is how can Mineworx be only 18 months from lab startup to already have a partnership signed and projecting revenues from CC recycling this year?  ETI has their solution for YEARS and yet seemingly are now behind Mineworx in terms of moving the business forward.

I'm also frustrated with the continued dilution of ETI stock with annual warrants, options, etc. for ETI management.  If the formula works as good as they say and is cost competitive and the solution has almost no carbon footprint, then it would seem that ETI management has failed us.  Yet, they continue to reward themselves...

Also, I now question the legitimacy of the legal actions against Mineworx from ETI, since the Mineworx formula is seemingly different technology (based on the revelations from the news release today).

While it's true this is a huge market and can absorb more than one technology/company, the reality is that ETI may no longer have the "first mover" advantage that they always felt they've had in the past.

I'm continuing to hold my large position in ETI stock, but this is the first time that I've officially become concerned that the company lost their golden opportunity to capitalize on this market earlier.

I'd welcome other opinions as to what the Mineworx news release means...

[Eagleseeker]

Mwx news release means: ETI think twice about legal action, maybe our process is different enough. We have more than one scientist/engineer working on this. Reading between the lines doing a test on a Spanish site might indicate more involvement with Spanish govt. or miners,  "The Company believes that with further refinement OAR could be utilized to return this project to

[Therancher]

What the Seeker said........plus MWX has only just begun to "announce" real go forward happenings!!!! GLTYOU RR

[Therancher]

The "Shareholder Update " was exactly that, an update for MWX shareholders that, as stated months ago, MWX was/is/ and always will be "on their own path"!!! It is very important to be "on your own path" especially when your hiking partner keeps trying to push you off a cliff!!, SLOWLY ..........possibly through osmosis it seems...........you all will figure out what

[SpeckledJim]

I think the MWX news release looks like an awkward, public response to the filing of ETI's lawsuit. This little gem caught my eye: "As part of this research the Company began working with Organic Aqua Regia (OAR). OAR is an umbrella term for a group of organic based compounds. These compounds generally do not require the addition of water and are considered non-toxic. Two common examples

[Atechnician]

LOL, what a poor choice of an example. But it does not mean that thionyl chloride is part of MWX's formula.  " ...It is required in the manufacture of methylphosphonic dichloride, a key precursor for the nerve gas Sarin... " Thionyl chloride | SOCl2 - PubChem (nih.gov) AT.