PyroGenesis Canada Inc (PYRGF)

[Nobahamas]

THKS Tom,
In my believe you did a fair valuation of the spinn-of, and when you are wright, what is the reason for this new division?

In the past I have heard; we are not delivering these systems because within one year the systems are making more money than our profit of producing / selling these systems.
The latest system is an advanced system with better revenu / quality than the systems earlier delivered.
In the past AP&C / Arcam was free to supply any customer.
We are are now living in a different era; companies like Siemens or Alcoa are looking for securities in supply, would like to have multiple suppliers, or even own one.
So: I believe this spinn-of is worth double of what you calculated for these big AM companies.