Scidev has announced quarterly cash receipts of $760,000, up $91,000 from 2018 December’s $669,000.
Scidev specialises in water-solid separation technology. The company currently services numerous operations in mining, water treatment and waste management.
The company also secured distribution rights in Australia and the Oceanic region for products made by Chinese manufacturer Nuoer Group.
Nuoer specialise in research and development, manufacturing, sales and services of products containing polyacrylamide. Polyacrylamide is an important chemical for the basis of water-solid separations.
Scidev and Nuoer will also work together to develop new products and sales strategies for the global industrial market.
During the quarter Scidev also completed a capital raising of $2.5 million via a rights issue and two-tranche share placement at $0.06 per share.
Parties under Nuoer management subscribed for 5 million shares.