Developing Processes For The Low-Cost Manufacturing Of High Purity Silicon Metals For Next-Generation Lithium-ion Batteries

Achieved final critical milestones, completing a successful silicon pour

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Message: Summer Doldrums

Hi Lebowski,

Thank for these questions, I will try my best to answer these question within the limits allowed by disclosure rules.

Question #1: Seeing as there has not been any substantial news from HPQ in quite some time, I would like to ask what you guys are up to these days? 

We have not issued any press release since June because we have nothing material to report.

I am sorry, but when you build a pilot plant or any plant or mine, there are periods when nothing worth announcing is happening, but that does not mean that nothing is happening.

Question #2: Do you think the spinout of BGF will happen in 2017?

Patrick has already covered this point and I have nothing more to add.

Question #3: Is government funding still on target for Q3 (which was previously Q2)?

As I have already stated previously, the discussions with the Government are ongoing and right now I am not at liberty to talk about them.  Since my return, I have been very proactive in my discussions with them, but they control the timing.

Question #4: Should we be expecting the latest round of purity results soon?

Yes,  but as stated in our last press release the new testing protocol that we had to implement mean longer testing time than we like.  

Question #5: Is PYR still on schedule for Pilot Plant completion?

In our presentation on Page 13, we give a Gantt chart of the project development, and I don't really see any advantage for us to issue a press release after attaining individual sub-section of the project development.  The fact is that this part of the project is being executed by PyroGenesis, that I am in constant communication with Pyro key personnel and if there were changes to the Time Line, both Companies would have to issue a press release

So in this case, no news is good news...  

Question #6: Will there be some sort of marketing and promotion program implemented to attract new investors?

Yes

Question #7: If we don't see government funding soon (Q3), will there be a PP?  If so, will existing shareholders get first dibs?

As per my answer to question #2, this is too much of an hypothetical questions for me to answer at this time, all that will say is that we have sufficient funds available from our share ownership in Pyro to do without financing for some time.


Question #8, What is happening with the "mini pilot plant"?  Is is ready and working?

Pyro is in the construction phase and we will issue an update once the new mini pilot plant reactor is operational.  In the meantime, we are still doing some test using the old set up, but these tests are limited in scope because of some of the machine limitations that should be overcome with the new "mini pilot plant".   

So many questions....need reassurance to stay here and not move on to greener pastures I guess.

Understandable, but having been accused of issuing too many fluffs press release and been over promotional, we are now more cautious about our disclosure but rest assured we have a real vested interest in HPQ success and intent to bring it to fruition, which is producing truly green solar grade silicon metal.

Not to make a bad play on words, but there is no other "Greener" play than the Purevap project....

Regards,

Bernard
 

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