Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
It reads as a small delay, but 2 pilot plants, and a better indication of the type of agreement that they anticipate with the Bolivian authorities.
And this:
During the three months ended June 30, 2023, the Company received its first significant payment of $500,000 from the sale of the rights to use the iTDE Technology in Bolivia. Under an agreement with Clontarf Energy plc, a UK AIM listed company, the Company will participate in the commercial venture that will further exploit these rights. The Company has undertaken to test its process using brines supplied by Clontarf from Bolivian sources. If testing is successful, the Clontarf Agreement is expected to lead to the creation of a corporation organized in Bolivia between the Company, Clontarf and, possibly with
the participation of the “Pública Nacional Estratégica Yacimientos de Litio Bolivianos” (the ‘National Strategic Public Company of Bolivian Lithium Deposits’) that is tasked with the management of Bolivia’s lithium exploitation. The new corporation will then enjoy and manage the exclusive right to deploy iTDE Technology for lithium extraction in Bolivia.
The Company continues to pursue its intellectual property protection strategy with testing and development to support a strong protection profile
Next-Chem have released a sec filing. This is some of it:
During the second quarter of 2023, the Company has continued to manage the construction of the 2 pilot plant systems that will form the basis of its ongoing commercialization efforts by enabling the processing of samples supplied by potential customers in order to market the system commercially. The two planned systems include (i) a smaller flexible system utilizing the iTDE Technology that will enable the processing of solutions containing lithium to demonstrate the
commercial viability of the system; and (ii) a larger system that will handle the processing of industrial quantities of brines, better demonstrating the scalability and performance of the system when used commercially to extract lithium.
The smaller system is designed to allow further refinement of the basic iTDE system with ease by enabling changes to sensor types and position as well as adaptations of the other relevant systems with ease. The inherent flexibility of the design allows the Company to further its research into the extraction of other elements, and to improve the modelling of the process for commercial implementation, as well as providing a platform to explore the commercial extraction of
other elements and to allow changes that will reduce the cost and improve the economics of the process.
The completion of the systems has been delayed due to the long lead times for certain sensors and other necessary systems. The present estimate for the completion of the first system is early in the fourth quarter of this year.
The Company is in the process of moving its laboratories from the previous location in the incubator facility run by the University of Illinois to premises that will be able to handle the import and storage of large quantities of chemicals and customer brines. The previous premises were not suited to this purpose. The opening of the new facility is anticipated to coincide with the completion of the first pilot plant.
The Company anticipates first running extraction tests on brine solutions mixed with controlled defined quantities of elements that approximate the naturally occurring brines of potential customers to be the subject of the commercial testing under the Clontarf Agreement and for other potential customers. This initial calibration of the system should provide a better baseline for the testing before proceeding to operate with actual brines.
I have news, was going to share with the telegram group but then I was blocked!!
I agree. The option ought to be for them to pay at the strike price. It seems that really they can buy one and get one free, which means that they effectively buy at half the price.
We've both been around for years Nookie. You should think about at least holding a little bit here, for the result, but not more than you can afford to lose. I've got some shares in lbe which I expect to go up and cover any holding here, so I'm risking potential profit from lbe on this, as it's one of the very limited company managements that I think can be trusted.
Options at 148.... hahahahahahahahahahahahahahahaha
The Transaction effective date is 1 January 2023, so they can already claim six months of production, and with payback within two years. I think that the deal is good and will add when the price settles.
In most cases proof of concept extends to marketing and audience. I looked through some patent applications recently, and there were 2 applications for one of my designs, both good and usable, but both failed as they didn't get to market. The reason was probably lack of money and support, as patent applications can cost millions. This is different as the market is there and waiting, and so if, a little if as it's already been tested with synthetic ions, it does work in scale, then the funds and market are ready
I admit to top slicing a few at 14, putting money into lbe, but am still holding and might buy back if a good opportunity arises.
I'd expect full lab results in q3, like a break down of lithium purity achieved and any other ions removed etc, but I'd expect a general rns to state whether the tests were successful in drawing out the lithium before that.
What this needs is another ramperty video. Did anyone notice that the guy from Proactive was wearing the same clothes in two videos, dated apart? Or that Bell had a plate on a tray behind him (which was weird)?
I had a quick trade of this last week, but got out quickly. From looking at the fund raising announcement 15th Dec 21, it says:
For the benefit of the Company, the Subscription Price will not be the subject of a price cap but, and further, will be the subject of the Floor Price of £0.002 per Share. If the Subscription Price formula results in a price that is less than the Floor Price, the Company may elect not to issue shares and instead opt to repay the applicable subscription amount in cash, with a 9% premium, subject to the subscriber's right to receive Subscription Shares at the Floor Price in lieu of such cash repayment.
Which is gobbledygook that means that they were aware that the share price might reduce lower than the floor price, and although they could elect to repay in cash they didn't have to.
These and Riverfort are the reason that the market is in dire straits.
Now that they're out I might play with my profit and come back in. There are approx £440,000 of warrants at 0.0035 from the 4th April.
The Ghanaian situation is annoying, but the Ghanaians must realise that they're in a use it or lose it phase, and the Tano acreage cannot be reallocated, especially with the imf monies emphasising stopping corruption, and the need for revenue.
Both Clon and Pet mention Australia for funding and joining the dots Clon's contacts are oilers.
The extraction of ions has been proven in the lab for various concentrations of different ions using the iTDE technology, which is based upon the square metres of active surface area. Therefore, in the Board's view, it should be easily scalable, since an increase in the surface area results in a proportionate increase in extraction yield. The same basic system works for different ions, however the flow rates and chemistry differ for each brine composition. Therefore, exact kinetics of each reaction must be determined by running the brine liquids through the Pilot system. This allows the calculation of OPEX and therefore CAPEX for a specific brine project.
It's not about scalability... little tv big tv, little fridge big fridge, little car big car, it's about whether it works as well with natural brines instead of synthetic brine
I'm working on a prototype now and it seems illogical to consider that it will not scale up. The fundamental is, does it work?
In the good old days, people traded through the crest system and were issued with paper certificates, which they then posted when having sold shares. Then, the shareholders were the ones who owned the companies and they were the ones that were offered and entitled to be part of placings. You'd think with the onset of computers then it would be easier to involve shareholders in placings, but not in the UK.
This is an extract from Next-Chem's report (notice the if though)
The Company began preliminary marketing of its technology in the latter part of 2022. On March 28, 2023, the Company announced the signature of an agreement with Clontarf Resources plc, a UK AIM listed company, that will provide the first commercial testing of the iTDE Technology as soon as the controlled pilot plant system is completed (“Clontarf Agreement”). The Company anticipates first running extraction tests on brine solutions mixed with controlled defined quantities of elements that approximate the naturally occurring brines to be the subject of the commercial testing under the Clontarf Agreement and for other potential customers. This initial calibration of the system should provide a better baseline for the testing before proceeding to operate with actual brines supplied from Bolivian sources. If testing is successful, the Clontarf Agreement is expected to lead to the creation of a corporation organized in Bolivia between the Company, Clontarf and, possibly with the participation of the “Pública Nacional Estratégica Yacimientos de Litio Bolivianos” (the ‘National Strategic Public Company of Bolivian Lithium Deposits’) that is tasked with the management of Bolivia’s lithium exploitation. The new corporation will enjoy and manage the exclusive right to deploy iTDE Technology for lithium extraction in Bolivia.
It's a good company, but it's got a lot of options at 6.62
I topped up this morning, probably could have got them for less, but in it to win it, and what's a few points when the potential for this is enormous.