John, we can only hope that sales are pending. Pending on what? Well, considering that any customer must invest millions in a plant, and the fact that there is no history on any plant actually operating at normal capacity for any length of time, it would be an act of faith for any customer to place an order now.
When will there be an order? I don't know. However, I will say that I am still as supremely confident that GRNO will triumph in the end as I always have been. It's just that GRNO is unique in its inability to release news for its investors and it's taking far longer than I thought it would for orders to be placed.
When I invested in GRNO, I had no idea the plant would operate at only a third of its capacity. But even operating as it does, the plant would still make money if energy prices weren't as low as they are. Today, prices are more than 20 cents a gallon lower than they were last August. A year ago, who knew?
As an LP, I am not antsy to see money figures. I know I will have to see them, but we aren't allowed to see them now. The machine is losing money, of that I am sure.
The state of South Carolina in its wisdom has decreed that the plant may only operate at 250 gallons per hour of feedstock, even though that works to destroy GRNO and the jobs it should create. But that is the way government works, and government is as big a risk as market forces.
To see another example of government wisdom, go to
search.washingtonpost.com
As Ron said, time is once again running out for the Turks. I am waiting anxiously for an announcement of an order. But we know that the Consortium had to meet again which it should have done by this time, and then the parliament had to approve its outcome. So I haven't yet heard the latest developments.
We know that one customer has deposited earnest money and is working on the rest of the down payment. I don't know what the status is of other orders, but I think they aren't rushing because of the lack of long term operating history. But every day of operating even at the reduced level is one day closer to those orders.
The higher operating level permit has been applied for, but we have no idea when it will be granted.
Charles |
