UPDATE: Talked to BURG!!!
He called me back, was upbeat, and his info was consistent with what BigD, Drift, and others have posted...
-NEXIM ($5 million!!!) and UPS loans only need to be funded now, all approvals are done (all the way to the top of the chains). Per Burg: "Funding is imminent" and will be PR'd ASAP when funded.
-With funded loans (particularly NEXIM), plant construction will accelerate and it could be completed possibly as soon as 3rd Quarter. Burg is going to Nigeria for two weeks starting Mon to talk with construction crews on working overtime among other things. Everyone involved knows there is high incentive to get plant finished sooner rather than later as revs will increase accordingly.
-Per Burg, Nicosan demand is through the roof and their estimates are deliberately conservative.
-2nd dryer will be installed and operational this week…prod/revs will jump accordingly for pilot scale production. 3rd dryer is a backup.
-Burg sees no negative impact whatever the outcome of the upcoming elections. Dr. Ayo Coker, Director General of SHESTCO
is unaffected by upcoming by the elections (non-political position) and is committed to helping XKEM and Nicosan production.
Feel free to call him yourself!!!
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