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Your point Ledzep certainly highlights how badly this has been handled.
You know something went wrong when a lot of your long term holders have had enough as they arent your fickle get rich quick investor (although nothing wrong with that), us lth's have endure a fair amount and still kept the faith. We have sat through raises which excluded us, dates put back several times, big rises and big falls of the SP, but stuck fast as we believe, this time though the mess and lies seem almost to in your face.
Tim shouldnt be given a Directorship, he should be standing down straight away or forceably removed. As you said previous I doubt DR kept the stages to operation a secret. Even I knew the stages roughly, just as it seemed so out there I expected it was taken into account when Tim said Q4 2021 is delayed until Q1 2022 recently.
As for his explanation for the delay, wow, a real politicians answer, pretty much dodging any real info.
Lets be frank. PHE are at PEELs knees. PEEL not PHE decide timeframes as its their unit and PEEL dont need to rush it as its last part of Protos project. Thats the real reason for the delay and one I would actually get. Not all this mumbo jumbo about all of a sudden they realised they mighy need to test the thing.
The raise? Again, lets be honest here. Long lead times items? Maybe one or two, but real reason? To pay their wages as they knew their was going to be a big delay to income. Again, I would get that.
PHE, stop with the lies.
Markrops: Couldn't agree more with your 16.21 post.
This is just a trading opportunity, as I see it, to make a bit on the toos and fros, until the mists have cleared.
For me the long and short of it is PHE has a lot of work to do to regain my investors trust before I start believing again what they tell us in the future. Tim Yeo has lot my current trust, which is in many ways a shame as I have backed PHE fully for some time and I do love the product.
Thank you all for your replies. I do understand the logic that Tim is the perfect fall guy as only a temp CEO, however it must be noted he was voted into a Director position at the AGM so its not like he is leaving the company after recruiting his replacement (I think).
I too am ok with the timeframe of POC and also believe tgis will be the point we can start signing more deals, however again ok doesnt mean I am happy about how the company went about this. I don't believe for one minute any of this was suddenly a suprise to them and that no one in PHE knew we would need to test the unit etc. All of this would have been known and I fully believe the company mislead us investors on purpose. We were clearly told Q1 2022 by our CEO, with a delay possible, yet the reasons for the delay dont cut it at all as mentioned. A raise was held with the main reason given as stopping a delay.
I feel the company, led by its CEO directly lied to us PIs at least and that my friends is never a good thing.
Clearly a lot more going on behind the scenes than we are told, i.e. dragging of feet, poor management decisions etc.
@Markrops,
No, I understand your view. And I do get your point fully. But for myself, I just view it as a small hiccup. Now yes, if another delay comes out -say another year, or the such - at that point I will be worrying slightly.
But for now what I mean is that were still doing fine. We have a technology that we have faith in. They've not come back and said the tech is flawed, or that they need more time to do R&D. So, realistically it's just sit back and wait. And I have faith there will be a few companies like ours within the next 20 odd years. It would be nice to be first. But if not, we will still have work.
However as I said above I do fully appreciate your points. And I am sorry if I have came across blasé. They're very good points and evidently I do not want to come in last behind the competition.
After all the disappointment here, I've moved my cash to Eqtec. Expecting bigger things faster there with better team. EoY that will be multiples of its current mcap.
Sentiment here feels somewhat diminished, mainly triggered by the announcement of the recent change in anticipated completion date for Plot10B, but there are, IMO, other contributing factors.
It doesn't help having reports of HW saying that Poland will be the first to be up and running and TY announcing that Protos will be the focus and priority for PHE. It's suspected that there's been a rift between DR and TY and why has it taken 8 months to start the recruitment process for a CEO when DR announced his stepping down last November?
The DMG at Protos has now become totally enmeshed in the Peel development of their vision of a Plastic Park and PHE have lost control, IMO, of any timescales and funding of the development of the first DMG ( without PHE going their own way, if agreements allow, and self funding arranged).
As for the sudden realisation that the completion dates for the DMG were based on the timescales for a three stage development is barely credible - did DR keep that as a secret and left a note with his Hi -Vis jacket and safety helmet, to be found on his day of departure ?
TY said recently that the stating of the 31st October date for financial closure will provide concentration and focus to achieve that date, did the stating of 31st March for the same, not also do that? Apparently not.
You can only kick the can so far down the road until people stop chasing it!
Two years ago a community event was held regarding the DMG at Protos, and now we are doing the same for the Plastic Park - it is not feeling like real progress for the DMG development.
Don't get me wrong, I have faith in the technology and what it can deliver and proud that it could happen on my doorstep, but we need real clarity over the situation with Peel, IMO.
Hi Markrops, I hear you too. Few things though, the clarity given around the 2023 date I was happy with. Construction and proof of thermal combustion chamber next year and generation high purity consistent syngas - that is a major milestone and significantly derisks this FOAK in my view. I fully expect a lot of big money to pile in after that and it's only next year. As others have said, even if the DMG at protos is not the FOAK but the one in Konin is, that works for me too as once it's fully proven (wherever that may be), the business can then go through rapid simultaneous expansion across the world. Not many will have heard of DMG you are right but the job of our new Business Development exec is to be spending the next 12 - 24 months raising awareness and drumming up business for when the DMG is proven so PHE have considered this and are actively addressing it.
I dont see how you can say nothings changed as though the date change isnt important.
Its MASSIVE. Right now clean energy is a fast paced game. Big players taking stakes a lot more.
12 month delay might lose you the market.
It might not either,but you cant pretend it doesnt increase risk, when it does.
Lets go a bit wild here and silly, FOAK for PHE now delayed 100 years. You telling me that wouldnt matter? Of course it would. Extreme yes but highlights the point.
Timeframes are ALWAYS one part of what makes a company successful. Not everything but still important.
I looked at your Twitter, and I must agree with you.
Yes we are frustrated. However nothings changed apart from a date being pushed to the right. We still have the plot of land, we still have the go ahead to build.
I think a lot of the sellers are short term and day traders looking for a quick buck - note not all, and I appreciate there will be exceptions. But my own thoughts are wait out on this one. If it was good enough before for me, and nothing has changed, then it is still good enough.
Very few have the vision to see it, the courage to buy it and the conviction to hold it through all the inevitable turbulence
https://twitter.com/sensetalka/status/1423205476938956800?s=20
My target price remains unchanged here, I continue to add