Sunday, October 22, 2017 1:37:23 PM
All that exists at present is a small mass of empty PR. Actually financing and building a refinery takes experience, not only in the business, but in financing it. MMEX has neither.
As previously offered, and supported by substantive evidence from reputable organizations like AFPM, current for 2017, there are only three CDU's in Texas. One is shuttered, one is nearing bankruptcy, and the third, a Kinder-Morgen operation, is an upstream operation for its own system.
A CDU cannot generate positive cash-flow. This is well-understood, and well-documented in the industry. Anyone with two neurons to rub together can obtain that due diligence with very little effort.
No entity with the capability to support a $30M - $50M financing would invest in an activity that is doomed to fail out the gate - MMEX's estimate of $50M overstates the cost of a CDU by roughly $20M, a clear and glaring problem, just one of many in its "plan."
They've chosen an unknown entity, VFuels, to "design" the plant, which has zero industry track record of delivering modular refining capability.
The MMEX management team has a history of failed execution, questionable financial schemes, and is at best marginal - no serious financing entity would step up to the plate on this scam.
There are a multitude of reasons why MMEX is doomed to fail, if in fact it has any legitimacy at all. As a share selling scheme, it is so far effective, but like all such schemes, when the music stops, and it will stop, there will be many without a chair.
So, respectfully, I have no "interest to know that the MMEX refinery will be built." I have a clear, and concise, fact-based understanding that it won't. The preponderance of evidence, engineering, and market facts point to that single outcome.
Recent MMEX News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 09:51:51 PM
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 01/08/2024 02:30:21 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/03/2024 01:18:51 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/14/2023 03:11:12 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/06/2023 04:48:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/14/2023 06:42:49 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/11/2023 08:50:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2023 01:30:20 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 07/17/2023 08:55:16 PM
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