EORBF EORBF (May 28, 2019) Yahoo finance Another I've been following awhile... since 2011. After a long string of repeated equipment failures that have been hobbling the start-up of their first production facility, Orbite Technologies says (not for the first time) that maybe they have it all figured out this time. Meanwhile, they've unresolved disputes with equipment suppliers who didn't fulfill their obligations, are under court protection from creditors, and are perhaps not trading in Canada for that reason ? But, IF they do finally get it working this time ? The concept still needs proving in operation, so even if "it works" as designed, or as it should, there are unresolved questions about what that will mean in commercial and economic terms... given the difficulties and delays encountered in putting their first installation in operation. How often are they going to have to shut down and re-build, or re-invent the equipment... before finding the tricks to let them actually sustain it in operation ? On the plus side, technically, I see no reason it shouldn't work... and they've been blessed with patience and help from the courts, their creditors, and the government... who are financial backers... contributing to stability in their approach to solving problems. It tends to drop hard on small numbers of shares sold, and pop up rapidly on buying... not getting a lot of help from the market makers here... But, a success delivered here could be eye watering in the long term. If they make it work, the resource they control suddenly becomes a lot more valuable... and the concept is a path of least resistance in being environmentally competitive... while the IP portfolio also becomes a far more valuable asset if it proves to be commercially viable. Another I'd be OK adding on down days in the market...
They can make high purity aluminum... and a lot of it... if it works.
Timing ? "Testing of the pyrometallurgical section, including the new feed system and product transfer between the decomposer, calciner and cooler is expected to commence in mid-May with first ACH injections into the decomposer forecast for the beginning of June. This will then be followed by the production of a limited quantity of HPA over 3 to 4 weeks to demonstrate the HPA Plant’s capacity. Production activities will then be put on hold while Orbite completes the required steps to emerge from CCAA protection." So, should have a bead on it in mid-June of a few weeks after? |
