"This week, it [Soil Sub] signed a new 20-year contract for additional sale of Nutrimix in China with Hong Kong based Timms Cho Group. Soil Sub will receive a royalty of 7.5% of gross sales, or more than $15 a tonne, of product sold. Timm Cho expects to sell 190 000 tonnes of Nutrimix in the first year and up to 300 000 tonnes thereafter. Revenue from the contract is expected to be $2.85 million in the first year, increasing to $4.5 million a year. The company also plans to sell Nutrimix in the Middle East, Australia, Europe and Africa.”
End Article.
Sounds like another contract win for the company. But why the lack of news, especially regarding the continuously mentioned Middle-East expansion?
SOI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
