Member Info for Tray556

Sol001 - If POW's SP is dropping, yet POW's investment values are rapidly increasing .... it just creates a more obvious investment case and I add more shares. It's frustrating that there a still big sellers at these obviously undervalued levels, but I'm not going to moan about a balance sheet that continues to grow.

With the IPOs, I actually have no issues with liquidity leaving POW and moving to the IPOs. Take a look at all the liquidity that left POW to move to GMET. It's created a situation where POW arguably don't need to raise a penny on the market for the next 5 years+. Ideally you would like to see more liquidity in the AIM market in general, but it's simply not there. The liquidity that has left POW to move to GMET has created a £20mil+ return on investment for POW at current prices (taking into account the partial sale from 6 months ago too)

At some point POW will have enough investments and a large enough balance sheet to attract the bigger boys. That's the plan here.

Ultimately if it gets to a point where the market is still pricing POW at a measly £15mil market cap when the balance sheet is at £50mil+ then Sean will ensure POW holders see a solid return at some point. It's all about getting that balance sheet value as high as possible for the next few years in my opinion and guaranteeing at least a x3 return from current levels. If the market is still lousy then I think Sean would have to sell up at £50mil+ and we will all get to live to fight another day with a x3 return from here as a minimum by selling everything down and issues a big final dividend.

In regards to the AGM vote, it only gave the POW board the power to do a share buyback. Nowhere did it say "as soon as the vote goes through a buyback will be actioned" .... I expect to see one in 2025 but not until we sell some more GMET stock to finance an aggressive buyback.

To reiterate my views on IPOs, JVs etc. .... it's all about what provides the most balance sheet value if POW have a choice of option (they won't very often). If they don't have a choice, then as long as it takes the cash burn off POW's books I'm all for it. FDR for example, POW had no choice. No one wanted it for 36 months+ so lets just get it IPO'd in the most basic way using POW as the cornerstone and a load of AIM retail, it adds £3mil to POW's balance sheet and a £0 cash burden for the foreseeable.

With the Uranium assets, it was an IPO or nothing for a while (UEE IPO). That option would have raised a few million quid and hardly touched the sides in terms of exploration potential. But the POW got a choice .... and of course as soon as a potential private equity JV with UCAM was announced, where UCAM were putting £10mil in to the venture, POW needed to change course from the IPO as the balance sheet impact was much great with the UCAM JV option.

At no point after the UCAM JV was announced did I say "POW should stick with the Uranium IPO route"

Sol001 - no one on this board flip flops around more than yourself looking for excuses at to why the SP isn't moving.

Ironically, the bottom line here is that as soon as POW can get rid of all their investors that just solely watch the SP .... and replace them with investors that just watch the balance sheet value go up .... the SP will move up dramatically! We are such a long way away from that position though is seems unfortunately!

Well your latest comments below Sol001 strongly suggest to me that you don't really understand the POW model.

You say you understand it but just seem to flip flop around with bizarre commentary focused on the share price action.

Anyone who gets the model can only be positive about it. Every KPI states the model is working absolutely fine and Sean has managed to double the balance sheet in 2 years and put POW on the verge of financial self-sustainability. Simply clicking the sell button on GMET would put POW in a position where they never need to raise cash again on the market.

Sean cannot really control the SP .... it is where it is because the float is in dire hands. Once that is fully addressed, the SP will rise. It's simply demand/supply rules.

Well said Doc83! One of the very few that fully understands the POW model on this board it seems.

So POW to hold 45,987,594 FDR shares at IPO which equates to 43.44% of the company. Worth circa £3.1mil @ the 6.67p IPO price.

POW also holds 8,506,336 FDR warrants (which I can only assume are all at 10p with a 12 month expiry)

POW's total listed investments this morning will stand at £18.8mil vs it's £16.7mil market cap.

POW also have multi millions of cash in the bank + a 30% Uranium JV stake with millions in the bank. Yet the market continue to price these elements of the POW portfolio negatively as if they are liabilities?!? Bizarre, but this is the problem when your float is in the hands of 90% AIM retail. POW need to address their float issues ASAP via a share buyback and/or by getting better quality investors onboard.

Cheers Wigstar, much appreciated.

AGM sounded very positive and so it should when there has been so much balance sheet growth over the past 12-18 months.

I’ve got a good feeling the second half of 2025 is going to be much better for the POW SP as the business continues to grow at pace.

Volumes are definitely on the up Doc83. Including AQSE trades, I reckon about 7% of the POW float has been flipped since the start of Rick Rule's symposium last Monday. In the same time period on average, around 2% of the float gets flipped based on previous months.

The AGM is definitely a key date with the share buyback vote. The AGM is 11am on 25/07/2025.

Also worth noting that FDR IPO funds need to be paid by 22nd July (next Tuesday). Highly like some POW selling is going on to fund IPO stakes. There will also be a bit of GMET selling too as many involved in the GMET spin out will want FDR shares after the GMET successes to date. Expect some sells to dry up after 22nd July.

Once FDR goes live, POW's listed investments alone will hit the £19.5mil mark vs a market cap of just £16.7mil at present. I think with £19.5mil of listed investments + £5mil cash + £10mil of exploration in Athabasca getting deployed right now + a share buyback possibility .... POW will just continue to get more and more eyes on it as we move into the back end of 2025.

Sol001 - You say the next push up in the SP will come from a share buyback yet you also say that the SP isn't moving because of any IPO progress.

You are aware that if POW do manage to do a share buyback in the near future it will be financed as a direct result of an IPO having success and generating a multimillion pound investment profit for POW holders?

Yet again your posts make very little sense to me.

The 400k @ 14.5p (£58,000) printed with a timestamp of 10am on Friday 11th. At that time the ask was 14.5p so could well be a buy.

Price action today in POW suggests quite a few are selling up POW to move funds over to the FDR spin out.

As it currently stands, POW's market cap is just £15.8mil, but their listed investments + cash balance are as follows:

Cash in Bank = £5mil

GMET = £16.2mil

FDR = £3.2mil (once listed at the end of this month)

FCM = £0.4mil

TOTAL = £24.8mil

So there is a £9mil disconnect before you even factor in the Uranium JV which has £10mil to deploy in the Athabasca this summer and is doing it right as we speak.

POW are sitting at their most undervalued point in their history and also their highest working capital position, yet the float appears to be in the worst hands it's even been in. Share buyback desperately required (a share buyback would also fall under POW's RNS in case anyone is interested ...)

Sol you are sending yourself crazy over this SP .... surely you don't believe half of what you are currently posting.

Of course I want the SP to go up .... but I want it to go up off solid fundamentals and tangible value so when this SP rises it will be a sustained rise. Not a rise off pure hype as we all saw what happened to the SP back in 2021/22 where it went up and straight back down again like a lead balloon because the rise was built on nothing. It's the reason this float is in a total mess at present.

The opposite is happening now. The balance sheet is starting to move up to whole new level of value. The SP should be going up but its not .... it will at some point and there is a clear as day investment case in POW now unlike previous years.

FYI - The only reason a share buyback is a financial possibility is because our investments have done well.

Surely anyone with a brain that wants to do an ounce of research can see that POW will be owning 40%+ of FDR upon listing. Let FDR announce the news flow, let them build their business, and POW will monetise any investment gains down the line as they hold 40%. Not every spin out will be a success. POW replicating everything in the FDR RNS feed for example just so "POW can RNS something" is total madness.

Pete - The warrants issued as part of the 2021 FDR acquisition all had a £1 conversion price (5p pre consolidation) and a 3 year life .... therefore they all expired in Oct 2024 without being converted.

In terms of a "commercial discovery" .... for the millionth time, POW don't need a commercial find for POW holders to make money here.

Sol001 - Your waffle on IPOs and JVs and wanting things to appear "under POW's RNS" is total madness.

The POW modus operandi is:

1) Spend initially very little

2) Spin the projects out of POW and put a chunk of value on your balance sheet

3) Let the IPO or JV take on all or most of the costs

4) Sit and wait to see what happens for a minimal financial ride

5) Bring any successes back to POW again.

The GMET price is outperforming POW because they have a float that is 60% cornerstone investors that are non retail. FDR about to be the same (circa 50%). I expect them to do well simply because of the process, not their assets.

POW is held by 90% retail .... once POW can get 50% of their stock locked away by cornerstone investors, it's game on for us all here.

Sean has a massively undervalued business case now which has a solid balance sheet value of £30-35mil vs a sub £20mil market cap. Larger investors will eventually buy in.

If the fireworks are happening in the spin outs like GMET, then it's great news for POW regardless of if it "appears in the POW RNS feed" or not.

GMET has been taken from a £2mil investment to be worth £25mil today for POW holders. The SP in POW hasn't reacted yet .... but it will in due course.

Pete - The 13.3mil warrants you refer to has nothing to do with FDR. It's in relation to what UCAM hold from the Uranium JV.

Yes it would be further dilution whilst POW would raise £2mil in the process, but the main problem here is too many retail investors holding POW stock who have no idea about the model POW are progressing. POW need to get the float into better hands first and foremost.

If UCAM do convert their 13.3mil (15p) warrants it gives them a chunk of POW stock and they became a circa 10% TR1 holder but they will be willing to hold on to the stock (as they are with GMET stock they hold too). POW would get a solid cornerstone investor that they so desperately need at the moment.

The buyback that is getting voted on allows POW to buyback up to 17mil of stock. That isn't aggressive enough for me but at least it's a start on the topic. Expect if POW can sell their GMET stock soon, further special resolutions will be voted on in order to enhance their buyback ability.

Even if POW did a 13.3mil buyback and UCAM converted their 13.3mil warrants at the same time, the shares in issues wouldn't change .... but who holds the POW float dramatically changes. That's the key here. Getting those to sell up and clear off who don't get the POW model, and bringing those in who fully understand how well it's currently working.

Simple demand/supply economics will then see the SP move up.

Agree Bonkers - great logical post.

We signed a JV with UCAM and the SP went down. Wasn't that also a bad move for the "SP watchers"?

Focus here needs to be building the balance sheet (FDR IPO does this, GMET IPO does this, UCAM JV does this). The SP will eventually catch up to the obvious financial fundamentals at play here now.

An even bigger focus needs to be on the share buyback here and moving this dire float into better hands.

Pete's comments earlier saying "at this moment POW has not generated any cash from exploration." just personifies everything that is wrong with the holders of the current POW float in my opinion. The SP will go nowhere until the float moves to hands of those that understand a balance sheet model. It will happen eventually. The share buyback would certainly speed that process up.

POW to hold a larger % stake upon IPO according to the Schedule 1 than anticipated .... looks like 45.71% as opposed to the estimated 37.5%.

FDR to have 105,771,980 shares in issue upon listing @ 6.67p = £7.05mil market cap.

POW to hold 45.71% = £3.22mil upon listing.

POW held 38.6mil shares at the pre-IPO stage. 45.71% of 105,771,980 shares = 48.3mil shares.

Therefore POW have participated in the IPO as well by the looks of things by increasing their stake by 9.7mil shares (circa £650,000).

If POW have participated in the IPO .... they will also have a stack of 10p warrants.

Someone mentioned on the FDR telegram group yesterday POW were chucking in a further £250k in cash. Plus FDR owed POW £329,500 as at 31/12/2024 per the year end accounts which has highly likely grown to £400k+. So looks like the additional stake POW have took of around £650k is made up of £250k cash + the £400k intercompany loan between FDR & POW.

Expected admission date is Tuesday 29 July 2025

"Our own exploration"?? What does that even mean.

The model here is to make your money via exploration through spins outs and JVs in a low risk manner.... it's an "investment game". The whole point is to do it this way as a low risk approach as everyone else pays for the majority of the exploration costs and POW get the free ride.

POW are never going to make money from there "own exploration" (assuming that means 100% owned projects). It's ridiculously high risk and after taking a £2mil GMET investment to £25mil .... the model is clearly working.

Pete that comment is absolutely ridiculous .... I cannot believe what I'm reading!! "at this moment POW has not generated any cash from exploration."

What do you call the millions of pounds of cash in the bank they have just generated from GMET .... you know the Nevada based EXPLORATION company?

Drilling started end of June 2025 .... so you've got to assume around 2-3 months before drill core is batched up, sent to the labs, analysed and then data interpreted into RNS.

Only a guess though based on timescales from similar projects.