Damn you got a decent amount. Gonna have to see where 300 shares takes me lol. Decent company coming in:
"Qinghai Technology has the production capacity of approximately 15,000 tons of boric acid and related chemicals per year by using the traditional extraction processes of crushing ore and processing the resultant dust through its facilities. We believe our facility produced approximately 10.7% of the total national output in the PRC in 2018 according to an annual report produced by the CISA. We plan to replace the crushed ore processing with processing brine sourced from nearby Dachaidan Lake by the middle of 2020 subject to financing. We plan to expand current ore processing production capacity from 15,000 tons annually to 60,000 tons of boric acid annually."
"In 2018, Qinghai Technology produced approximately 10,500 tons of boric acid from operations due to a two-month closure due to plant maintenance. It expects to sell all of the boric acid it produces in 2019. In addition, we believe that margins and purity will improve due to the lower cost of production, improved reclamation processes and reduction of hazardous waste material. Qinghai Technology’s boric acid in May of 2019 sold for approximately RMB 4,350 (USD 630) per ton which we expect to increase to approximately RMB 7,000 (USD 1,015) per ton due to improvement in the purity of our product with new production techniques."
Looks like they are already processing $6 mill+ of boric acid yearly and with the current market cap look like a nice 300 share hold lol. If they expand to 60 tons then looking at $37 mill+ range. GL!
Any idea if they plan to get off greys?
