Once again, my comments are in RED…

Hi again Bernard - sorry to be a pest and all that, and I know slide 9 has been on the company's website for ages, but every picture tells a story don't it - and I only just realised something, so I had to ask. 

And, once again. Sorry to be a pest.  Maybe not a pest yet, but maybe you should do a bit more serious DD before asking questions… You will find most of the answers to our questions in our financial statements, MDA, press releases, and our videos on Agoracom

Slide 9 says it costs a min of $200 M for a conventional 30,000 MTY plant, whereas the QRR will cost 85% to 90% less.

Here are my 2 questions;

-- 85% less than $200 million is $170 million. So are you saying that the QRR Capex is between $20 million to $30 million only? (vs. $200 million).  Correct (but the final numbers will be validated by the pilot plant testing) …

The other thing a little unclear is the size of the QRR plant. The conventional plant is said to be 30,000 MTY, but there is no mention of the output of the QRR plant, other than to say it is scalable in 2500 MTY increments.

-- So what is the output of the QRR plant that will cost just $30 million to set up? is it 30,000 MTY?  Well, if we are scalable by 2,500 MTY, that means that the minimal size production unit composed of one reactor is 2,500 MTY…

I realise that it's more than possible that your answer to both the questions is a simple "yes", but I had to ask. I looked and looked but I just couldn't find Waldo in Slide 9. 

And if the answer to both is really a "yes", then this company is a no-brainer because you can set up a 2500 MTY plant for just around $2.2 million! OK I have serious questions about your logic, how did you ever come up with that number, you are completely comparing Oranges to MONKEYS…

Do you understand the concept of BARRIERS TO ENTRY?  Look it up, it is an important business principle…

Let me try to explain with the following example: So presently, you are a quartz miner, and you want to be vertically integrated by becoming a Silicon Metal manufacturer, well your only option is that you need to invest an additional $200 M+ to build a 30,000 MTY plant to become a Silicon manufacturer… So, the size of the investment is a barrier to entry because it limits the number of players in the market.

But since for us, we can start entering the silicon manufacturing business with a small 2,500 MTY Purevap QRR plant with one reactor for investment between $20M and $30M, we have reduced the investment required to enter the business by 85%, furthermore, since we produce a higher purity product cheaper, we can focus our activities only high margin ventures…

I have explained this at length in videos I have done with George

So before writing comments like “hmmmmm......if what you say is correct then that statement on slide 9 is misleading.” I would suggest doing more DD on your own, PS asking me questions that I have already answered is not doing DD…