POW (ASX) Ann: Daejon Extraction License Application Submitted

Originally posted by Hotrock1: ↑

Assuming the Daejon extraction license is granted, how will POW find their share of the extraction and beneficiation costs. They are not free carried.

The grades are crap, the metallurgy is almost non viable.

The battery tech is the only viable proposition for POW. Do you really expect the Koreans to give them a free ride for doing nothing .. the directors seem to be highly negligent in their reporting duties to shareholders.

A class action against this company by old and current shareholders may well be the remedy for massive losses incurred by shareholders that may well have been led up the garden path. Class actions target directors or managers that do not keep their shareholders fully informed of events that clearly impact on the share price. Have the POW management kept their shareholders fully informed of recent events (past 9 months) potentially affecting the shareholders share price. Clearly not, where is the written evidence of notices to the shareholders of the events of the last month.

A section 249D is a harder way to get recompense, a class action may work wonders in that regard. This company has not kept the shareholders fully informed, nor have they bothered to reply to direct queries in writing.

When I get a bit more time to pursue this later this half of the year, I intend to pursue losses and recover the maximum back from the very large losses incurred due to the inaction of the people that were supposedly in control of POW activities. Enough is Enough .. the ex shareholders, as well as the current shareholders have rights. Only 7 aggrieved parties are needed to start a class action.

ASX listed resources players have been successfully litigated in class actions recently.

How this company still survives, or is allowed to trade is beyond my comprehension. The ASX needs a boot up the backside as well as ASIC.

HR

DYOR, I feel dudded and will not take it lying down.

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When it comes to vanadium it is not just as simple as looking at the grade of the ore. It depends of the style of deposit and extraction/processing methods used.

DST Co Ltd have stated that they believe the Daejon vanadium can be produced at a cost of between US$5 to 6 and MGX Minerals believe it is a realistic option for a source of V2O5 for their proposed battery factory.

Whilst POW are currently doing pretty much nothing lately they have been contributing to 50% of costs for developing the battery and the Daejon project and they were heavily involved in the OzLinc V-KOR battery trial.

How will they pay their share of costs going forward? Good question and I am presuming that there will be a capital raising before the year is out, but they would really need to ramp up their information levels/prospects or no-one will touch it. There are other possible funding options but with the currently low vanadium price I am doubtful about alternatives.