Dear Stocknews101,

Thank for posting your comments and questions on Agoracom.

In order to better address the points you raise, I will comment your post as follow:

 I have no comment about the first sentence.

 With regards to your second sentence:

“You indicated that the pilot plant will start operation in 2019 producing 200 tons of Solar silicon?  Per year. “

I disagree with the way you wrote that sentence.  The statement about producing 200 in 2019 is yours.

In the presentation on page 12 in the section 2019 and beyond, the exact word we use is: “From Q2 2019, HPQ to start operating on a commercial basis its 200 TPQ plant and …..”

So let be very clear, as we are only planning to start commercial operation in Q2 2019, our internal planning does not expect us to produce and sell 200 Tons of Solar Grade material in 2019, a more accurate projection is somewhere between 100 and to 150, depending on the plant relocation planning.

With regards to you’re third and fourth sentences:

“In the presentation on the website the operating cost when things get started will be $2,310,000 for the year it seems, this after a $510,000 hot commissioning for a total of $$2,820,000, assuming no unexpected problems.

If we manage to produce 200 tons of solar grade silicon during this time, it will have cost about $14,100 per ton according to the numbers from the presentation for the first year I assume if we have no unexpected problems).

Once again I must point out that your analysis of the information, while factually correct is completely wrong. One should not confuse the costs associated with the R&D and ramp-up phase that is scheduled to last ten months and actual commercial operating cost.

With regards to your fifth sentence:

Can we really count the sales of this as revenue in the spirit of making money?”

At this moment we can only guesstimate the true cost, but we are very confident that it will not be anything close to CAD $14,100.  This is why the Gen 2 startup become crucial, as we stated in our September 19, 2017, PR, the Gen 2 will Provide us with hard data to demonstrate the economics of PUREVAP™ QRR.

One final funny point on the subject that you may not have noticed, but that CAD $14,100 per ton you calculated equal US$ 11,000 per ton, and just by looking at page 6 of the presentation, and analyzing the information you will notice that even at that cash cost the PUREVAP process is still one of the cheapest out there…

With regards to your six sentence:

“Were you serious when you indicated we would be generating revenue long before RRS?”

Yes.

With regards to your seven sentence:

Don't we also need to go through the same permitting to dig up our Quartz that RRS has already done?  Or is it different for us because we plan to use it on PUREVAP?

Yes, we will eventually need to do so for our Roncevaux project, but as we stated on page 18 of the presentation, we can easily purchase our Raw Quartz on the open market.  Heck for our 200 TPA plant we only need 600 Ton of Quartz and that should cost us about US $ 30,000.

The fact is that the Purevap process work on all quartz and not just our Roncevaux quartz, and that give us lots of flexibility.

Regards

Bernard Tourillon
CEO

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