|Like a great many small caps, MBLX has doubled off its March bottom. I don't see this as company-specific, although I have not been following MBLX closely lately. |
So I was surprised to hear in your post that "the plant is still under construction" as I thought I remembered hearing construction was supposed to be completed by this time. At first I wondered if last year's floods might have contributed to a delay in construction.
Then I noticed an interesting para. in the Q you linked to:
The “Construction Phase” of the commercial alliance will end, and the “Commercial Phase” will begin, upon the achievement of a milestone referred to in the Commercial Alliance Agreement as “First Commercial Sale.” Achievement of this milestone requires the sale by Telles to third parties of at least one million pounds of Mirel manufactured at the Commercial Manufacturing Facility. Sales must meet certain criteria, including a minimum order size, and payment must be received from the customer in order for such sales to contribute towards the First Commercial Sale milestone.
Last CC had additional language on this subject. Here is what CFO Joe Hill had to say on 10/29/09:
The current target within the plant is to have everything basically out of construction into operations hands in November, in which case all of the facilities will be in the final start up process. So, we expect to have initial fermentation batches in mid-December and recovery will go just after that. So, it is getting very close.
Because there are so many other fish in the sea, I have not spent the time to research this more carefully. But I have noticed that more and more jurisdictions have been acting to discourage plastic bag usage.
The tobacco news is also interesting as is Rubbermaid prospect.
Let's see what develops.