re: IMH- another water treating co.
No interest in this one ..YET... , Here is the latest announcement.
As detailed in the Company's prospectus, IMT recently applied Phoslock to a portion of the heavily polluted Lake Dianchi in China. A major problem in the lake is the growth of blue-green algae, a direct result of high levels of phosphorus in the water.
The Chinese authorities have confirmed that Phoslock performed as predicted in that it removed 97% of soluble phosphorus from the water treated. It also removed a high proportion of the total phosphorus but not enough to meet the local water quality criteria.
As a result, IMT has been requested to move to the next stage, that is, to combine the Phoslock treatment with a common commercially available algicide. The performance characteristics of the common algicide are well known in removing the algae from the water. The algicide is of very low toxicity to other aquatic life.
This joint application should remove a higher proportion of the total phosphorus from the water to the low levels required. IMT is confident this trial will succeed in meeting the total performance requirements of the Chinese authorities.
The plan for the next stage has been agreed and the project will start in mid-September, 2002.
Upon successful completion of the next stage, IMT expects to begin finalisation of arrangements and contracts for the treatment of the whole lake. It is anticipated that this treatment will commence early in calendar 2003.
B Crowley CEO
IMH Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held