Get over yourself...You clearly did very little DD before investing in PRL if you couldn't even bother with a quick YouTube search of the company or CEO.. Your character reference of the CEO has no intelligent backing what so ever. Not sure this forum needs an emotional dump from you...Let's look at what the hydrogen industry is actually doing and perhaps what PRL currently have control over.
1. The Aus government in fact has been quite unsupportive of pushing the hydrogen industry. Just yesterday Fortescue has pulled out of their NT Hydrogen project plans stating a lack of government interest and investment in supporting the industry. We have people stating that FMG should buy us out when the tenements next to us they aren't even using for hydrogen at this stage...They too are playing a waiting game for where this industry is heading and in the meantime deciding to put funds into hydrogen projects overseas where governments are much more urgent to drive this. Name me a Green hydrogen company currently operating with off takers in Australia? Can you even provide us with the current green hydrogen price?
2. How can PRL progress the project until leasing gets approved? It doesn't happen over night and in fact takes quite a while when government is showing no urgency. PRL have reduced significantly the cash burn after using most recent funds for the required studies...We are healthily cashed up fortunately to be able to play a waiting game, but you still have to pay staff.
3. In April this year, a pre feasibility study report for a barge in the Gascoyne region was updated and stated the need and opportunity for a barge in the region for a range of industries. The study continues to mention hydrogen as the emerging industry in the area...It also states a range of places in the Gascoyne that a barge would not be able to be built due to either land constraints or environmental issues etc...However a location right near where PRL plan to build is where they stated was ideal...This report was not a PRL run report. But the findings look in our favour...This is available to read at the Gascoyne development commission page if you wish to read into your investment. Stakeholders are hugely supportive of growing the hydrogen industry.
4. We currently have the shire of Caravan working on changing the town common area zoning to allow us to build our downstream facilities as well as some of the upstream facilities.
There is a lot to happen for this company to work out, but that's why its a speculative investment with potential reward..But in the mean time it is a waiting game, I invested in this stock for long term, so the trading suspension couldn't bother me in the slightest, but emotional investors or traders would get bothered by it. The company has reported what they are doing and need to do. They aren't wasting cash on stock media. They aren't trying to hide the situation with fluffy nothing announcements, the qtly's tell us what is going on. Some of the questions investors want answers for are never going to be answered when public disclosure laws prohibit, confidential conversations with industry and government are in fact 'confidential' and the CEO is not sugar coating the situation.
How can we tell the ASX that we now comply as an energy company, when the Government won't even approve our tenements for hydrogen operation? I too would wait for this to change to know where this company is going to head in the future. In the meantime we wait. Some investors need to realise what's in the company's control and what is not.
PRL Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held