Hi Mr M
Honestly, I think that folk who bought in at 2 cents have reasonable gripes about news flow and progress. If you look back at the spikes earlier this year and check the announcements, there was good stuff for anyone looking for speculative investment - it's just that there's been no follow up. I haven't purchased any this year and I still think it's a bit off. I wouldn't ping them for bad strategy. Hell, I bought at .004 and that was terrible strategy, would have been far better off if I'd left my money where it was. Such is life and at least my inner tree-hugger is happy(ish).
Regards risk\reward and speculation and all that, last year PWN seemed to be a great speculative option. It had that new speccy tech buzz where the feeling is that if it proves itself, the liftoff will be rapid - the happy side of risk\reward. It also had, supposedly, clients that were keen and a side order of potential lithium goodness, always nice for a quick boost. Now, we seem to be in more of a slow burn situation. The risk is still there that the new tech won't take off, but the chance of a quick lift-off looks to have diminished. I'm pretty sure that your own expectations have cooled. From memory, you were more bullish about price and timescales. I don't think any of us would have predicted to close out 2021 at 1.2 cents, but that's shaping as a real chance Please correct if I'm wrong.
Maybe what we're seeing here is that the risk hasn't played out in our favour(yet?). We hoped that Worley plus the pilot plant would be enough to get clients over the line, but they weren't. We hoped for a test drill in New Mexico and now that's gone. The hands-off cash-light model that PWN proposed last year, seemed to indicate that clients would be on board quickly and paying us for PFS etc., but that didn't happen. On the cash-light model, I assumed that with Bahay's background and contacts, he was making the right decision at the right time. It was an attractive option for SH, but he didn't get that call right. A wee bit of a concern from someone who was supposed to know what clients are after and perhaps discussions weren't as in-depth as we thought.
Also, for those of us who like the eco-friendly stuff around PWN, that really seems to have taken a back seat. A quick browse through their PPS website does not leave you feeling that they're pushing cutting edge water cleanup tech. The front page has more of an dystopian thing going on, very popular in young adult novels apparently. I wonder if the look of the site is tailored to customers, that they'd be actively put off by anything that looks to be pushing the eco message too hard.
An aside, and no offence, the big numbers argument seems to have found its way into your posts. As a commentary on what you're up to, fine, but as a way to add weight to your arguments, I call dirty pool. How's that for contentious.
Cheers.
DYOR, forward looking statements, 2020 hindsight etc.
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