Auscrete Corporation (ASCK)

[piker86]

I know the funding from RB they need to start the Goldendale plant has been delayed until Aug/Sept, but I'm frustrated that they have said NOTHING else about what is going on with the plant.

Last thing we heard was in early April when they said plans for the plant have been completed and are out for bid. I was expecting each one of these milestones to be reported to show progress, but no word on any of these:

1. We have bids from contractors on building the plant. This is not a given, if the plant is not producible or can't be done for the money they want to spend there could be no bids. Getting bids shows the plans are solid and the plant can be constructed.

2. We have submitted the permit for the building to the city. This is small but shows progress, and sets a timetable for when the permit might be approved. Can't start building without a permit.

3. We have a signed contract with a manufacturer to build the plant for a reasonable budget, close to what we were expecting (they said $470K to build the plant.

4. We have a permit from the city to start building, and we can build the plant we planned, and dump our waste as planned, without any significant new costs coming up to meet city codes we didn't account for. This is huge, it is a sanity check for their cost estimates and profit projections.

When I asked Lee about news on the plant he only said the story will come together after Labor Day. What are the odds all four of these milestones are complete and they will be starting to build when they get their money from RB? Seems unlikely, but not impossible, enough time has gone by since April.