Had a phone call today with PSL secretary Matt and from it was the following.
- Margaret Lake Diamond needs to raise $5 million Canadian dollars to find a suitable site, construct the factory in the USA and compliant for the Toronto Stock Exchange (TSX), so unknown time frame before that happens. Also with COVID19, it makes it harder currently.
- After the O’Connor trial of the battery. It went back to Korea to do a 3 year government funded trial to test and trial the battery, so the company is not spending anything on it while that goes on. It is in its second year of 3 years.
- POW has $764,000 as at June 30, which should keep them going for 6 to 12 months based on current expenditure.
Also asked him if he could put it to the board that shareholders are kept up to date a bit more than what they currently are.
- Report due out by end of this month.
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