I keep getting "Planum" Partners (the middle man which found the...

I keep getting "Planum" Partners (the middle man which found the financing partner) and "Palisade" Impact (the potential financing partner with a clean energy fund) mixed up in my posts. I know the difference! I apologise for any confusion to anyone reading my posts.

I suspect DEL was honest in both the December and March releases. In the past three months, this deal going ahead has become less certain, and the word "potentially" has been inserted to cover the company's directors legally if, at a later date, they need to announce that it's fallen through. My problem with this, is it feels like they've tried to slip something past investors. It has been done deliberately, and purposefully; without any explanation. The deal is binding, but depends on various conditions being met; any one of which could sink it. Investors are never told what these conditions are, nor how easily it would be for Palisade to walk away. As I think you said, nobody knows if they are related to the projects, or DEL, or anything else. A useful release to market would be a letter from Palisade Impact, since what they say, at this stage, is more important than shallow updates from DEL. As an unlisted entity though, they aren't obliged to provide anything.

“Progress has been very positive with key milestones in the due diligence process now satisfied. This work is expected to continue in Q4 FY2023 towards completion…” I find this completely unsatisfactory. The type of word-salad which US VP Kamala Harris would be proud of. The ridiculous project statuses are likewise deliberately vague. I suspect it's this way because everything is not okay and if everything was on track, the communications would reflect that. Due Diligence would have taken weeks, perhaps a month or two. Not six or seven months. EmptyTrolley may be right that the IPO and cap raise were done to fund BLM and NZ rather than the BOOM projects. I hadn't thought of this. It could be that the more Palisade Impact look, the less they like. They are not stupid, and wouldn't be writing $50m cheques if their experts are reaching this conclusion too. They would not be interested in directing millions of dollars to fund DEL's OPEX and keep it afloat.

EOrford_2611-- Yes, the story and thematic makes a lot of sense. The fact it's a new industry creates obvious teething problems. I love the idea of what is trying to be achieved. However, I have lost faith in management. They are the master of under-promising and then under-delivering. At some point, enough is enough. Over the past 12 months, aside from the Palisade Impact announcement in October, there has been no presentations, no written or verbal interviews, no updates, no conference attendances, no updating of the website, no conference calls with investors, no YouTube videos or Volume 2 of their newsletter released. I can’t recall another company where investors are treated with such disdain. Even the Palisade announcement was quickly soured by the next-day announcement of closure of the retail energy division, which had supposedly been done "after a long and thorough review" Yeah, sure it had...

Nobody who sold over the past few weeks, having bought at 20 cents in 2021 or early '22 is "panic selling" at 3 cents whilst 75 or 85% down! Many investors have understandably had enough of being taken for mugs. I would have happily rode this stock down to 1 cent, enthusiastically buying more along the way, if management were open, transparent, and trustworthy with milestones being met and promises mostly kept. I would show an infinite amount of patience. As it is, in two years, this company has not started build on a single plant (EPC or BOOM). It signed one EPC contract 18 months ago. No government grants. Nobody has seen the directors for six months. They haven't had a plant under construction for at least half a year. The only construction work done in two years has been related to two massively loss-making legacy projects. We're supposed to take it on trust that the coloured icons on their pipeline map represent anything tangible. Management don't even itemise money spent on QLD1, yet it's supposedly been due for FID both last year, and now in early 2024. VIC2 (wherever that was meant to be located) has disappeared without explanation.

There is a chance this company falls over. There is also a chance Palisade's river of money starts to flow and the share price bounces hard. This could well be the darkest point before dawn. However, as of today, there is nothing tangible and positive to show for the past two years. The promise of something maybe happening in the future is amateur hour. I predict that from here, at 3 cents the brave purchaser will either 10x their money and look like a brave genius, or lose it all. Hopefully it's 10x. I would love to see these plants get built but I'm tired of the nonsense. I am invested in other small cap stocks which are the exact opposite of DEL and a joy to own.

Even if the money is released tomorrow, when will SA1 and VIC1 realistically be completed? I couldn't see either of them in construction earlier than July. A year to construct. Then three to six months of testing. Early 2025 if there are no delays? I guess that's plausible. And with Palisade propping up the company for two years.

I will be selling my shares in the morning. I don't owe Delorean Corporation a debt of loyalty. DEL will be H&R Block's problem eight weeks from now. The deduction will offset some gains elsewhere, and my portfolio page will be free of this stock. It will become a mere footnote in my 2022/23 tax return. If substantial, real, tangible changes occur in the next couple of months regarding funding commitments, project commencement, and management communication, I will be open to buying back. I'd love to buy at 10 or 15 cents once management has some runs on the board and plants under construction. At the moment, they have nothing to offer but promises, and coloured icons on a self-published pipeline map.