The Predicatble Squeeze, page-21

Colt, sorry for being late. I know the following is not going to be liked but that's the way I'm looking at it. (btw, KNL IS no. 1 in my portfolio)

1. "Product 100% sold - so demand no issue": for me still an issue because I presume there must be sort of a price escalation clause linked to market price linked to supply/demand.
2. "Customers are perfectly happy with the product": agreed, but KNL still has to prove it can be delivered under industrial conditions.

We are not looking for sales or turnover, but for (sustainable) profit. Sorry mate, I'm working for an industrial company for more than 20 years and I've learned to be careful when it comes to visions. And for sp we do need another thing: sentiment. Got lost for some reason. Comparable to lithium (PLS is my no. 2 position).

Don't get me wrong, I am positive on KNL (and PLS), but still I'm watching it closely.