Proprietary Processing TechnologyDST’s core platform is a proprietary hydrometallurgical process for treating ores and residues (including arsenic-bearing materials). A proven, scalable technology can create durable licensing and service revenue streams, differentiating the business from commodity processors and supporting long-term margins if commercialized.
Positive Gross MarginA roughly 33% gross margin implies the company’s unit economics for metal recovery can be favorable. If DST scales projects and converts pilot work to licensed deployments, those gross margins can underpin sustainable profitability once fixed R&D and G&A are absorbed, improving structural earnings power.
Top-line Growth SignalConsistent TTM revenue growth, albeit from a small base, indicates early market traction for DST’s processes and services. Sustained adoption of cleaner recovery methods by mining customers would support recurring project work and licensing, offering a durable growth runway if commercialization continues.