Correct Inexperienced River Refinery Information
Ecodomaine Refining, Inc before truly completing the purchase of Inexperienced River Refinery, spent previous 1 12 months refurbishing the Inexperienced River Refinery.
And precisely what gear was refurbished The realtor link you dug up supplies an fascinating answer:
Be aware the 09-Jan-08 modification.
EcoDomaine Refining, Included (EcoDomaine) proprietor and operator of the petroleum edible oil refinery plant design pdf word liquid refining plant positioned in Green River, Emery County has requested to administratively amend the prevailing Approval Order within the provisions of the Utah Administrative Code UAC R307-401-12, Discount in Emissions. They intend to render the fluidized catalytic cracking unit and the catalytic fuel reforming unit inoperative. The Methylene Tertiary Butyl Ether manufacturing course of originally scheduled for set up won’t be constructed. These things will not appear on the tools list. As such the plant is not going to be capable of refining organic liquids into client fuel products. The plant will only be capable to distill the assorted fractions of the uncooked organic liquid feed inventory. These separated fractions shall be offered to the market place.
It has no identified capability to refine the waxy oil into gasoline.
After refurbishing Inexperienced River Refinery in 2006, Inexperienced River Oil Refinery was valued at over $16,500,000 in 2006.
Fallacious. Per my earlier post on the subject,
EcoDomaine hired an appraiser. They informed the appraiser what refurbishing was deliberate, and on the premise of those plans to appraise what the refurbished plant may be price after edible oil refinery plant design pdf word the work was accomplished. The appraiser gave a $16.5M worth. But we already know from the realitor disclosure, that work resin factory never occurred. Thus, the appraisal worth based mostly on the assumption the refurbishing would happen is just not valid.
The valuations for this property based on its history: EcoDomaine buys it for $500K in 2006. In 2010 it is positioned in public sale for a starting bid of $135K. Then lately the NAI realitors places the property up for sale at $3.5M. We know the increased worth $three.5M has nothing to do with the refinery. Maybe the failed Bridgestone proposal to construct a brand new $200M refinery, bid the value of the land up subsequently
So what does the ORFG mean when it states:
The Green River Oil Refinery was valued at over $sixteen,500,000 in 2006 and the company believes its true value is nearer to $70,000,000 as soon as it is up and operating.
Observe the words “was valued”. True, in 2006 there was the appraisal for $sixteen.5M based on refurbishments yet to take place, and by no means did. Did ORFG management tell its stockholders the refinery IS worth $sixteen.5M No. Did they provide any basis for “believes” its true value is $70M No. They may’ve inserted $35M or $140M – they can “believes” no matter they want. The PR comprises a very fastidiously crafted statement. A press release which technically does not lie, none the much less decieves the stockholders.
BTW – what precisely did ORFG give because the proposed acquisition value within the LOI Only within the microcap world are stockholders saved at the hours of darkness as to the proposed acquisition value. What does a ORFG stockholder know in regards to the proposed acquisition What will be the associated fee to convey it on-line – assuming it ever is brought online Permit issues What will the plant produce in what volumes, with what margins It is possible stockholders shall be requested to guess. We already understand it will not be the standard oil to gasoline or diesel refining. In one other words the $70M out of the air determine is bogus.
Yet to come is whether or not they may announce the acquisition has accomplished. If it will get that far, past the LOI, then they need a 3rd get together to supply money for a convertible word. One can safely lay bets the seller and realitor will want cash, not microcap inventory. Then if not too convoluted, one might be ready to figure out what the acquisition worth is for ORFG. Within the meantime the PR hype is good enough to assist the edible oil refinery plant design pdf word continuing stock dump by insiders, and affiliates.