I was a long term holder ( in excess of 6 million shares at one...

I was a long term holder ( in excess of 6 million shares at one point ). Communicating with Jerko on a regular basis etc.
I was drinking the coolaid he was serving me !

What a load of crap it turned out to be. Remember "fast track" BS !!! Sold out long ago and just pop my head in now and again to see what is happening.

500TPa facility... yes proved they could make battery grade but never got near its full capacity ( from memory around 20T made )
2000 TPa facility - again never got near full capacity, circa 100-120T produced.
Lots of excuses as to why neither could get to scale, cost being the major factor now.

Now they have to try and get circa $400 million and, IMO, the pilot plants are now an obstacle as to why they will not get funding because they have had two hits at it and failed to produce at some sort of scale. If they had persisted, at a loss albeit, and got a plant to work at scale someone may have some confidence to back them ( and they would be ready to go with a revenue inbound when Li prices rebound ) but I just can't see anyone investing this type of money at them now. They could not get funding or a decent offtake agreement when prices were good, they have next to no chance now prices are so low. In hindsight they should have raised say an extra $50-75 mill when the SP was good so they could get the 2000T plant working to scale and give themselves some breathing space.

Some value in permits, ponds, etc and really the only option I see here for Jerko is to try and sell their stake in Puna for whatever they can get and he will move onto one of the other 2-3 companies he is involved in. If I was a buyer though, I would be waiting until it went into Administration and pick it up cheap because the reality is they are years away from being able to produce anything to give them revenue. ie Last financials indicated $6 mill in bank and $1.3 mill per qtr cash burn = 4.5 qtrs left. Product sale may buy them an extra quarter, so they have a year left with present funds on hand. Rattle the can in the next 6 months ... for them to just keep lights on ? Do the maths... 1.5 billion share on register now, 500,000 mill shares for a cap raise, so immediately the shares are worth 25% less. Any Cap raise will need to be at least at 30% reduction to SP ( suggest more ) .. so around 0.015 cents at best, so 500,000 million shares will raise them $7.5Mill. Enough for a year or 2 maybe ( depending on what they are spending on )... then what ?

Best of luck holders, I do hope it works out OK for you as I don't want to see people lose money.