I don't know why they decided on Durant. It's not too far away from the scrap sources at CMC, it's closer to the Midwest markets. And it's further away from the seaports where cheap material from overseas arrives.
We have to see if that's enough. Seguin can profit from building the Donald's wall. (I'm not being serious)
And I forgot : 25% of the POTENTIAL production. And production is most likely several years down the road.
So for now it's 25% of NOTHING
You can have all the Nobium you want, but please call it Niobium. Probably a good deal for the folks at Cometals. But in the past they have several exclusivities that tanked. Such as Mischmetal.
With 25% you will be very dependent at what levels and where the other 75% will be sold.
Do they have an obligation to purchase the 25% regardless ? Where are they allowed to sell it ? When is production coming on stream and what quantities ?
Rumors have it that Amazon, after crushing all the Mom and Pop stores, will want to trash the steel business.
How and when "Order your rebar on Amazon" will start, depends on the developments in the transportation industry.
Delivery by drone will not cut it and the UPS and Fedex drivers union already announced they will not make door deliveries. The USPS also sees difficulties in making deliveries, unless rebar can be delivered in 1ft length and no more than 10 pieces per package.
Left, right, down the middle, down the drain. Usually you tell us it's set to double.
Man I can't bear the anticipation.