Dale…
A few more “nuggets” from the SEC submission by ALTIF:
>>Since 1994, the Company has increasingly shifted its emphasis from the acquisition and development of mineral properties to the development and testing of mineral processing equipment for use in the recovery of fine, heavy mineral particles, including titanium, zircon, gold and environmental contaminants. The Company has also leased, and seeks to lease or acquire, lease mineral deposits suitable for the use of its mineral processing equipment. <<
Hmmm, five years now they have been developing their Jig!
>>Altair is presently testing and customizing the Jig for use in the recovery of heavy minerals such as titanium and zircon and for use in the washing of coal<<
Hmmm, been doing “testing and customizing” for quite a while.
>>Preliminary reports suggest that the Tennessee Mineral Property contains significant amounts of valuable heavy minerals, including titanium and zircon, and is suitable for a large-scale sand mining operation with a multi-decade life. See "Tennessee Mineral Property." <<
Hmmm, They have had that property for quite some time and they still only have preliminary reports!
>>From a financial and accounting standpoint, the Company is a development stage firm and has been since its inception. To date, the Company has derived no revenues from product sales or otherwise and has experienced an operating loss in every year of operation. <<
Hmmm, How long can you continue to be a development company. I guess as long as you do not produce any revenue.
>>. If the feasibility study suggests that cost-effective mining of the Tennessee Mineral Property is feasible, mining could begin within 24-36 months after completion of the study, subject to, among other things, the price of, and demand for extractable heavy minerals and the Company's ability to obtain necessary financing, permits, and government approvals<<
Hmmm, 24-36 months after completion of next study. The Tennessee Mining does not seem to be revenue producing very soon!
>>The Company is a small player in an industry comprised of major mining companies possessing tremendous capital resources. The Company is an insignificant competitive factor in the industry. There is no assurance that competitors, many of whom may have significant capital and resources, will not develop or are not now in the process of developing competitive equipment that may be functionally or economically superior to the Company's equipment. <<
Hmmm, does not sound promising! In another section, other alternative separation technologies are discussed which seem to be as good or better than the “JIG.”
Sounds like a winner to me. Funny how when you read an SEC document, it NEVER sounds as good as the Press Releases!
I continue to be short ALTIF but I fear I will go to my grave before it finally crashes. I can't wait 25 more years!
Bob T.
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