Scidev Ltd - Iluka Resources Deal
Scidev Ltd (ASX:SDV)

Iluka Resources Deal


Supply Contract

SciDev and Iluka have agreed to a three year sales contract for Iluka’s flagship Jacinth Ambrosia site for its MaxiFlox® chemistry.

Multi-Million Dollar Revenues

Revenue to SciDev is expected to be AUD $8M – AUD $12M over the duration of the contract for supply of the MaxiFlox® chemistry.

OptiFlox Validation

The contract follows a comprehensive period of evaluation of SciDev’s technology on site by the SciDev technical team in parallel with the Company’s OptiFlox® technology.

What does this announcement mean?

SmallCapInsider from Mawson Graham provides perspective on this recent announcement.
Written by SmallCapInsider
Published Oct 01, 2019

This transaction demonstrates that the SciDev team is able to deliver effective and bespoke solutions for tier-1 customers. Furthermore, this transaction represents a significant uplift in annual revenues from previous financial years which were ~A$2.2m in 2017/2018 and ~$2.9m in 2018/2019.

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Managing Director's Summary

Lewis Utting

“This agreement is further validation of the commercial utility of our MaxiFlox® chemistry in the mine tailings space. Just as importantly, it highlights the calibre of the SciDev team in executing the technical and commercial evaluations over an extended period with a tier one Australian mining company”.

Lewis Utting
Managing Director, Scidev Ltd

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