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And their finances must also be a major contributor to the drop. Not a pretty picture. Debt is high, and they need funds. However it does appear that instead of burying their head in the sand, the company is taking active steps to manage the situation to maintain the company as a going concern Read the K10 for the full breakdown.
NEXT-ChemX is down 80% over the last year, and Clontarf is down 70% in the same period.
Something had to be afoot. I had previously requested twice by email to NEXT-ChemX (info@next-chemx.com as published on their website) for updates to be published on the tech pilot plants progress in TX. Nada. Niente. Nichts. شيء . Not even an acknowledgement.
So I did some more digging around for news and came across their Annual Report to 31 Dec 2023(SEC K10 form filed on 1st April 2024) which makes for some very interesting reading. It certainly explains the significant drop in share price as plans and timelines have significantly changed.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1657045/000149315224012269/form10-k.htm
“The Company’s progress towards Market Readiness.
It is always difficult to identify exactly where any technology is to be found along the path to its commercialization and how soon it will be ready for commercial deployment. Throughout fiscal year 2023, the focus was on the design and construction of a controlled pilot system consistent with the needs of the pilot testing phase. In order better to concentrate on this, given the limited resources and knowing that the extraction technology has been proven in the laboratory for a variety of critical materials, the Illinois Laboratory was closed during 2023 and the Company turned to consider the engineering issues using consultants and contractors from India. having proven certain extraction rates, and the ability of the iTDE Technology to operate effectively. This puts us into the second phase. The best estimate for completion of the controlled pilot plant is that it will be operational at the beginning of the third quarter of 2024. If successful, this could lead to operational pilot deployment at customer sites in the first quarter of 2025.”
So there we have it. I wonder how that impacts pitching for the business in Bolivia? Maybe the fact that it has been shown to work in the lab, and that the financial qualification is apparently in place, is enough evidence for now for the Bolivians to keep them in the game.
I guess we will find out soon enough.
Mate I've been here for over a year just felt tired and a bit muddled
Just want to see this back to my buying price of .15
Lets hope news in the next week
It appears that this board is attracting lots of new posters who are trying to make an impression and tell us things we already know and making references to old news.
We are currently in the second round, not sure what your saying, you best copy and paste.
Would someone with sense have a look at the Mar 18th Rns , 2nd paragraph and tell me exactly what they think DH is saying here.
They've progressed to the second round...
A lot of this is to do with Lithium being at the bottom of the cycle and less risk elsewhere that still offers decent returns. in short, no one is interested in this. That doesn't mean that it isn't interesting or something truly awesome can happen, its just why bother?? the money will come in for this on news and you'd still make a killing with much less risk. We're all on our half boards waiting for some waves whereas most investors will see the first wave or two and then realise "surfs up"!!!:-) its a waiting game.
On Next Chem-X's website they point out a couple of competing technologies, you wouldn't do that, if you weren't 'confident' on your own technology.
Encouraging to see that the patent is after the last update on the nextchemx website but there are patents pending when reading the rnss this and last year. Some confirmation on pending patents and measureable success of the process isn’t too much to ask for at this stage or are we to assume that this isn’t a problem?
Mr T, if successful it would be incredible (for many reasons), however the chances of them pulling it off seems low based on past performance. I suspect the low share price is an indicator of the fact that the company is associated by ramping clowns. Positive action is just assumed to be manipulation. I think it's a good risk to take, but more cautious souls will want something definitive to invest on.
Rebel100, Thank you for posting that link, very informative and interesting. My confidence here is increasing all the time. This technology is the only one that does not use excessive amounts of "precious" water which for Bolivia is a key requirement.
Leggy
A shot at something incredible?
Really, if so incredible why is the MC languishing in the depths. This is my concern, why does the market dismiss the possibility of it being something incredible?
Mr T
Rebel and leggyland - history tells me you both are correct. Whether this time it’s different may be like looking for a needle in a haystack but there may be some hope.
DH is a nice guys for sure. He replies and talks a good game. But up to this point he has been a complete failure no doubt about that. He has an opportunity to redeem himself
@Leggylad
That's how I see DH, great on the big picture, not so great on detail and delivering.
I get the feeling that Next Chem-X are 'boffins' (inventing stuff) more then 'corporate' types.
For what it's worth I have very little faith in DH, and history tells us he talks a good game but delivers nothing. Somehow he's found himself in with a shot of something incredible, and at these levels the risk/reward is very attractive. I'm prepared to lose what I've invested for a potentially huge payday.
I have hope, but not faith. The guy is a dope.
Not seen any evidence of nextchemx patents or an update since summer 2022 on their website. We just have to have faith that the jv is progressing. Annoyed that as this story unfolds they are in competition with many others ( phase1,2 etc ). Oh well. Another aim company doing what it does and hoping I’ve caught the bottom and the Clon delivers
I hear you eagleye. No doubt DH is working hard. Just wonder if all this is going to be a waste of time or not and when we actually have confirmation for once and for all.
How would you trade this ? Buy now at near an all time low and it could go straight down another 60 %. That's a trade but not a good one.
Unless you have inside information it's pure gambling.
Just a great share to trade until proper news....
Back down she goes. Every move up is Always sold into. A lot of investors desperate to get out of this share.
Need some Bolivian ayahuasca to see the potential of Clon come true.
Im afraid that happens on all aim shares Pauly, The fact is the prospects are good and I know DH has done all he can to get this right and win the contracts.
This share has provided turmoil to so many investors over decades .
When the price of the sp goes up by 8% we have lots of people writing about ‘news being leaked’, ‘multi-bag coming’, etc.
When the sp shoots down at a higher rate then there is radio silence.
I can’t wait much longer.. bring on May 9th for news one way or another
This is clearly FUD and you know it.
@Leggylad
Some of CLON's RNS's are just as 'old', doesn't make them 'old'.
We still refer to them.