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

Iluka Resources Deal

Highlights

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?

Erik Bergseng CFA® from Mawson Graham provides perspective on this recent announcement.
Erik Bergseng CFA®
Written by Erik Bergseng CFA®
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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