As usual, appreciate everyone's input into the thread. Just want to wish you all a safe and happy - oh plus healthy Christmas and New Year.
Apologies to other poster's who I haven't added, I just went back to the start of this page!
To me, 2020 has been both a rewarding but also frustrating year. I've been able to top up at the lows of 4 pips (didn't get any at 3) and enjoyed the ride up from there. There have been some great milestones achieved by the Company throughout the year and for that they should be applauded.
I did expect however to be sitting at a higher share price going in to the new year. Look - we can wait for six months for example until a major mining company signs on and we start shooting up. It's easy to look back in hindsight and say that the slow-burn was all a part of the process.
But reality is, we are sitting at 1.1c. Not one company has signed on. We have had one company test their waste brine and have achieved a 90% reduction in waste plus achieved saleable products. Who is that company? Is it the same one that PWN have sent through a proposal?
There is another Nickel company that has also achieved a 75% reduction in waste. Again - who is that company and where do they sit in the grand scheme?
On LInkedin recently, Bahay commented: "prior to being acquired by PWN, CPC delivered a successful freshwater conservation solution to Codelco." Well I ask myself, what was the outcome of that 'successful solution'?? It was not aMES related. Personally I wasn't aware that there were any other 'solutions' available to the Company to offer to clients other than aMES. And if a successful solution was provided and Codelco did not take up the product I want to know why they didn't please.
Then when it came to the KLPP PFS - it was my belief that the pilot plant was being built so they could run the waste brine through to obtain maximum results in the release. Then due to Covid that didn't eventuate so they used the old pilot plant.
Like you
@Mer I felt a deal of caution when there was no joint announcement between Worley and PWN. What is there to hide? I do not like it when key milestones are not hit by companies. If it starts to form a pattern then I'm gone.
Personally I like to have a clear structure that indicates the next milestone that is due and a timeline for future milestones. That way if management keep missing them, good sign to re-consider my holdings.
It's no secret that mining companies produce waste. I would think that companies would be applauded by the ASX and public alike if they announced that they were conducting a trial with PWN to clean up their waste. The only reason I can think of why they hesitate is that if the trials don't go well, they'd get a shelacking from all and sundry.
I think people would say that they were only going through the motions by trialling a waste reduction product produced by such a small company and that they weren't serious about waste reduction and ESG at all. Could and probably am wrong but that's my two-bobs worth.
Again - personally - I would like updates on the pilot plant commissioning and operations. Where does it currently stand and what waste streams have been put through so far? Bahay doesn't have to name the company, just give us some result please.
Are they shutting down for the Xmas/New Year break or are there some people working through at VU to run the plant?
Maybe my expectations on management are too high. I'm not sure. I use James Marsh - the MD of Andromeda Metals (ADN) as the yard-stick for the way a company should be run. That company under-promises and over-delivers and they hit each and every milestone and I know what they've done, what they're doing and what plans they have all the way to production in February 2022.
Look, James is a god. I want to have his babies. I know that's impossible as we're both male but I worship that man!!
Getting back to PWN
- if I weren't such a big holder I wouldn't invest so much into it nor be as passionate about its prospects.
I'm still pissed about retail holders not being given the opportunity to buy into the last CR. That was the needle that popped the balloon and down went the price. I would also like to know if any of those institutional/professional investors who were warmly welcomed into the Company still hold all of their shares? Who are they and what's their story and history?
Well stick a knife in me - I'm done! May as well stick the same needle in that sent the share price down!
Merry Christmas everyone. Hopefully this time next year the share price will be over 10c and we can meet up for a beer or two!
(20min delay)