I am cautiously optimistic. I believe the full range of emotions related to this news have been expressed on this board. I would like to think that Peter knows what he is doing, though. After all, he is the original proprietor of this company. He has been with this company for decades already. He seems like the kind of person who takes pride in his work, and wants to take it all the way for the ultimate home run. He does not seem like the kind of person who will be a "flash in the pan" and sell out in nefarious ways for a quick buck. If he was that kind of person, he would have screwed the company for dead a long time ago. Peter wants to build something that has real lasting transformative power. That takes commitment and a protective attitude.
The management of https://www.petwatersolutions.com/about had/has an entirely different attitude. The leadership of PET were scoundrels' from the start. Peter couldn't be farther from that mindset. CleanTeq is Peter's baby, and he has become forever "conjoined at the hip" with a respected hall of fame achiever, Robert Friedland. Robert has not gotten to where he is by "selling out" and taking the easy road. Working in the mining industry, and being successful, is probably one of the toughest and longest slogs in all of the possible jobs out there. He did not get to where he is by screwing over everyone. That type of activity leads to a very short career.
Not only does Robert Friedland own a significant share of this company, but so does Fidelity Investments. Fidelity got involved in this company because of Robert Friedland. Fidelity has been any early investor with Robert in a number of ventures...... Fidelity is one of the most respected financial institutions in the world. And then we have another deep pocketed investor in Cleanteq.... Pengxin.
Pengxin is a Chinese company whose leadership has known Robert Friedland for years. The leadership in Pengxin would not take being screwed over by some random business person very lightly. I will post an interesting article about Robert Friedland And Pengxin in my next entry. At any rate, please see the breakdown below of Major holders and insiders below:
Mr Robert M Friedland 13.4%
Pengxin Holdings 11.7%
Fidelity Investments 7.1%
Directors and Management 5.5%
https://www.cleanteqwater.com/wp-content/uploads/2022/11/CNQ-Investor-Slides-November.pdfMajor Holders
Currency in USDBreakdown
45.22% % of Shares Held by All Insider 1 11.63% % of Shares Held by Institutions 2 21.23% % of Float Held by Institutions 3 9 Number of Institutions Holding Shares Top Institutional Holders
Holder Shares Date Reported % Out Value 1 Fidelity Contrafund Inc 2,079,207 Sep 29, 2023 3.20% 395,049 2 GMO Resources Fund 735,000 Aug 30, 2023 1.13% 139,649 3 Franklin Gold and Precious Metals Fund 679,999 Jul 30, 2023 1.05% 129,199 4 Fidelity Contrafund K6 Fund 533,669 Sep 29, 2023 0.82% 101,397 5 GMO Climate Change Fund 320,055 Aug 30, 2023 0.49% 60,810 6 Variable Insurance Products Fund II-Contrafund Portfolio 3,117 Sep 29, 2023 0.00% 592 7 Fidelity Advisor New Insights Fund 3,189 Oct 30, 2023 0.00% 605 8 Fidelity Series Opportunistic Insights Fund 2,653 Oct 30, 2023 0.00% 504
https://finance.yahoo.com/quote/CNQQF/holders?p=CNQQF
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