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Non-Tech : Bill Wexler's Dog Pound
REFR 1.330-0.7%Jan 6 3:31 PM EST
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To: Peter V who wrote (715)4/14/1999 10:35:00 AM
From: Marconi   of 10293
 
Hello Peter V: ALTIF
Altif's press release of 4-13-99 references " For a copy of the executive summary from the SRIC Report, please visit the Company's website at www.altairint.com". I just checked altairint.com and did not find any SRIC executive summary. I would like to see how the valuation figures were estimated. And if scaleup, investment costs such as interest on loans, and site compliance with EPA were factored in. In the old Australian consultancy report they left out those factors to arrive at a $200+M valuation. That is unrealistic. They note something like 11% slimes (clay) in the deposit, but plenty of water. If there are 500M tons of material, 50+M tons of slimes to dewater and put somewhere cannot be ignored. As long as their numbers are realistic and their assumptions are listed, the assessment could be useful for adjusting to a more realistic basis and seeing what that might yield for value. The scaleup to commercial size is not trivial for a pilot size separator with two forces acting on it. If the jig operates robustly then scaleup could likely work well. If it is a delicate balancing act, then scaleup may be difficult or may at some size become hopelessly impractical. The time frame strongly indicates the latter is probably the case. I don't know at this time. ALTIF is a minor play. I remain interested in shorting it.
Best regards,
m
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