Ann: Chrysos Quarterly Presentation Q4 FY24, page-11

Listened to Capital conference call. From what they mentioned, their commercial labs are taking longer than they taught to reach cruising speed, acceptance of PhotonAssay take more time that they were thinking. Understand also that they will have fire assay on their Nevada lab after installing their 3 PhotonAssay units. A point to remember, exploration is not booming so I guess that switching to PhotonAssay is not a priority when traditional labs can handle the business.
Another point to consider : in North America, BMS now have 2 labs operational in Canada (Hamilton and Surrey). BMS is partly owned by Britania Life Sciences (BLAB) which is currently halted being late filing their audited financials. The reason mentioned : more audit work on BMS as they are thinking about listing it (IPO or spin off). This will provide another avenue for investors to play PhotonAssay as they will deploy 12 PhotonAssay worldwide. On the flip side, where will they take the money to finance this rollout ? It is worth checking out as BMS and Capital are the major driver of PhotonAssay expansion and the biggest slice of their backlog.
GLTA