Aqua Metals, Inc. (NASDAQ:AQMS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 04:30 pm ET

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Aqua Metals, Inc. (NASDAQ:AQMS) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Thank you for standing by. This is the conference operator. Welcome to the Aqua Metals Third Quarter 2019 Corporate Update Conference Call. [Operator Instructions]

I would now like to turn the conference over to Glen Akselrod, President of Bristol Limited Capital. Please go ahead.

Executive
Glen Akselrod

Thank you, operator. Welcome to the Aqua Metals third quarter 2019 conference call. Earlier today, Aqua Metals released financial results for the quarter ended September 30th, 2019. This release is available on the Investors section of the Company's website at www.aquametals.com. Joining us for today's call from management is Steve Cotton, President and CEO; as well as Judd Merrill, the Company's Chief Financial Officer.During today's call, management will be making forward-looking statements. Please refer to the Company's quarterly report on the Form 10-Q filed today, November 12th, for a summary of the forward-looking statements and the risks, uncertainties and other factors that could cause actual results to differ materially from those forward-looking statements.

Aqua Metals cautions investors not to place undue reliance on any forward-looking statements. The Company does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by law.

And with that, I would like to turn the call over to Steve Cotton, CEO of Aqua Metals. Steve, please go ahead.

Executive
Steve Cotton

Thanks, Glen. Good morning, and welcome.

Today, I'm happy to report that as we have guided throughout 2019 and for the first time in the Company's history, we are just weeks away from completing our work to commission and operate all 16 modules simultaneously in their final production configuration by the end of the year, and then commence operating the AquaRefinery on a 24/7 basis with all 16 modules available.

This is a major inflection point for Aqua Metals, as we intend to run the AquaRefinery at ever increasing utilization throughout 2020 with all 16 modules proven and available. We plan to utilize all 16 modules going forward in 2020 with increasing efficiency as we scale the entire facility to its designed production rate of 40 tonnes of AquaRefined lead per day plus 40 tons of other lead products expected to occur mid-year.

We expect to prove that our innovative technology is an environmental success story and an economic success story at scale. With the tireless support of our team consisting of Aqua, Veolia, Brown and Root, our local contractors, all of our Phase 2 critical capital projects slated for completion by the end of the year also remain on schedule.

Completion of commissioning of these key projects unlocks our ability to scale the full plant with projected positive contribution margins. These projects include concentrate production improvement, electrolyte chilling improvement, improvements in briquetting our spongy AquaRefined lead to prepare for melting and ingot casting, water recovery and management systems, upgrades to all the AquaRefining modules from learning to operating four of them -- 24/7 during Q3. And finally, the pace drying system to increase our yield and throughput.