Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I am a LTH of a substantial number of shares and like all others on this BB are looking for a return on our investments. Yes the site meeting appears to have been very positive. As previously stated I did not attend (all the right words etc) disappointed that even at this stage of progress no time frame was forth coming. By the way it's a bit more than pocket money invested here.
As I predicted a couple of weeks back. Said all the right words made all noises, great presentation and still zilch. What was it Jo said it can take anywhere between 18 months to 6 years to get all the paper work. AYM is as Jo indicated in that recent interview of no interest to the big boys so therefore it's a go it alone company, where is the 100 million plus start up cost coming from? were there any investors at the site meeting? Once again jam sometime in the future, maybe.
Though I live in North Wales it would not be difficult for me to attend (I'm not) because I don't think anything will be gained from it. Jo & Co will say all the right words, make all the right noises, give a wonderful presentation etc. but at the end of the day I don't expect much if anything to change. Looking at the SP and the lack of daily trades it would appear that the markets / potential investors aren't interested in AYM and one has to ask the question why. Surely the potential is there it's been survey enough, there's going to be the demand or so we're told so where exactly lies the problem? To hold an asset for over three decades and not develop it makes no business sense whatsoever. Geopolitical / Economic situations are in constant flux but there has always been a market for copper and prices have been relevant to the economics of the time so surely the opportunity for development has arisen previously in the past three decades. One can only conclude that the present / past BOD (though little has changed there) are the problem.
Two years ago I predicted that production would likely start in 2025, that date is looking less likely with every passing day. Please Jo & Co prove me wrong on all counts remove fingers from appropriate orifice and lets have this show on the road. Yes I will continue to hold but as a LTH I have to express my disappointment at the rate of progress.
AYM hold 20% who holds the other 80% ? and what if anything is known about their position on taking the project forward. AYM have an option on a further 50% is this a binding agreement on both parties or some sort of gentleman's agreement? surely there is a cost element attached to that 50%. Given the colossal sums quoted and the probable returns where is the incentive to effectively hand over 50%. With regards to the millions quoted to get the project off the ground or more importantly shovels in the ground where would this money come from, it's a large amount by any standard and raising it on the open market would surely be problematic. Any thoughts?
Like the other members of the BOD Jo has his fingers in to many pies, therefore his full attention is not where I'd like it to be. As others on this BB will know I'm a long LTH and I will continue to hold for the time being, but at present rates of development on all projects (LIM, Grangesberg, AYM) it's not looking like we'll see any significant changes in this decade.
Sad though it is of the passing of a board member at a relatively young age the board have on the face of it done very little to move the company forward over the last twenty years. No doubt I'm about to get pilloried. Just saying.