Member Info for Tray556

Why should anyone take over from Sean? Sean has doubled the balance sheet since taking over in March 2023 and POW now have access to over £20mil in working capital. He's outperforming almost all AIM CEOs.

POW will sell GMET soon and bring the cash back to POW for a x10+ return on that venture. All POW need here is to keep spinning out more opportunities and putting their investments profits to good use.

In a few years time, the POW balance sheet could be £100mil+ .... every KPI is moving in the right direction here. The market will eventually catch up.

The main issue at present is those who currently hold POW stock. Flush out those who don't want to be a part of POW and simply don't get the model and then the SP will take care of itself. Those calling for Sean's head are exactly the types of POW holders that need flushing out. A buyback has to be right up there on the "to do list" and good to see it's in the AGM vote. It was in the AGM vote last year, but at a minimum of 30p I think. This time the vote is on a buyback around market prices.

The GMET mid price back up to 60p this morning .... worth £14.8mil to POW or 98.7% of the POW current £15mil market cap.

POW also have £5mil+ in cash in the bank and have a 30% stake in one of the biggest Uranium exploration programmes on the UK market which is happening right now as well as a stack of other assets.

The business has never been in a more undervalued state (and it's been undervalued for 2 years+!)

As soon as the POW float moves into better hands, this stock will re-rate very quickly in my opinion.

Marketing will have a minimal effect at the minute in my opinion. It's all about having the float in the hands of those who want to understand the POW model. The float is just full of just bored share price watchers at the moment even though the business is in the best financial position it has ever been in by a country mile.

It's all about getting the POW float into the hands of those that understand the model with a longer term mind set. Until that happens, POW can release all the marketing material in the world. Nothing will happen to the valuation here in my view. That's why I'm all for a share buyback ASAP if Sean cannot get some deeper pockets to buy in.

Jack confirmed on the Telegram group the other week that there will unlikely be a Fermi Website in the near term.

UCAM own 70% of the JV. They will be pulling the strings as regards to the comms. Their style seems to be "let's talk when we have something tangible to discuss" i.e. drill cores and lab assay results.

Multi million pound Uranium exploration drilling campaign happening this summer. One of the biggest you will find on the AIM market in the Uranium space.

As POW's GMET investment alone covers it's entire market cap at present (£14.5mil). The cashed up Uranium JV is all bizarrely priced in for free, just like all the other components of the POW portfolio including a £5mil+ cash balance, £2.5mil in FDR, £0.4mil in FCM etc. etc.

Someone just posted some positive news on the FDR IPO in the FDR Telegram group (I think the info came from a broker):

Raising:                 circa £2.5m

Market Cap:           £3.75m +funds raised.

Placing Price:        6.67p

Warrants:              1 for 1 for warrant exercisable at 10p for one year.

Placing Broker:     First Equity Limited

Closing:                 ASAP

IPO Date:              July 2025.

Therefore look like the IPO is imminent and POW will hold 37.5% post listing which is about a value of £2.35mil assuming the full £2.5mil is raised that they want to raise.

Per the FDR presentation, they appear to be drill ready on one of their projects, so if they can raise £2.5mil, it should be straight into drilling.

Schedule 1 to confirm by the middle of the month I would imagine if they are going to make a July 2025 IPO. Been waiting for it for 36 months+ so I'll only believe it once it's live!

It is also worth nothing that some members of the POW board bought another circa £80,000 worth of POW stock between them around the 12p a share mark around 6 weeks ago.

They may hold options/warrants at 20p+ ..... but the cheapest stock option is to buy now.

The financial fundamentals in POW say this will go much higher at some point. Just a matter of "when" not "if".

Yes the POW board / management have warrants & options ranging from 20p to 65p a share.

But the cheapest stock option available to every single stakeholder (or potential stakeholder) in POW is buying on the market at 13p now.

*totally different with £5mil+ in cash as well as circa £15mil in listed investments.

There is a more general point in last year's AGM vote on a share buyback.

The criteria of the share buyback is much more specific this year and it includes the ability to do it at current prices which is the key here whilst the business is undervalued and trading at a 50%+ discount to NAV.

Of course, in previous years a share buyback was never really on the cards financially. This year is total definitely with £5mil+ in cash as well as circa £15mil in listed investments.

Doc83 - Personally won't .... it's a 4 hour trek for me to London.

Maybe if this share buyback goes through, the float moves into stronger hands and existing holders get a bigger piece of the POW pie too .... the SP should react positively and it will be worth attending :)

Of course if anyone is going please keep the board updated.

Correct marc001. AGM points are now on the POW website. In relation to a possible share buyback:

"Share Buybacks

7 THAT the Company be and is generally and unconditionally authorised to make market

purchases (within the meaning of Section 693(4) of the Act) of its ordinary shares of 2 pence on

such terms the directors think fit, provided that in doing so it:

(a) purchases of no more than in aggregate 17,250,000 ordinary shares.

(b) pays not less than 2 pence excluding expenses per ordinary share

(c) in the case of purchases made otherwise than by tender offer, the maximum price

exclusive of expenses at which shares may be purchased is the higher of

1. 5% above the average of the middle market quotations of the shares as derived from

the London Stock Exchange Official List for the 5 business days preceding the date of

purchase.

2. the higher of the price of the last independent trade and the highest current independent

purchase bid on the London Stock Exchange at the time the purchase is carried out.

The authority conferred by this resolution shall expire on the earlier of 15 months from the passing

of this resolution or at the conclusion of the Company's next AGM save that the Company may,

before the expiry of the authority granted by this resolution, enter into a contract to purchase ordinary

shares which will or may be executed wholly or partly after the expiry of such authority; and the

directors may hold any such ordinary shares in Treasury and are then entitled to resell the same,

satisfy the issue of new ordinary shares or cancel any such ordinary shares so acquired"

So looking to buyback up to a max of 17,250,000 / 115,610,437 = 14.92% of stock on the market at this stage?

Not much liquidity around and the float is in dire hands. Got to create the liquidity yourself in my opinion and get the float into better hands whilst you can buy back more stock at these ridiculously undervalued prices.

May cost POW a few million £ .... but POW have access to over £20mil at present via cash & listed investments.

This would be a very positive move from the company.

Yes ACAM have around £2mil worth of 15p warrants in POW from the Uranium JV deal last year.

So nothing stopping them converting those warrants once (and if) the SP moves over 15p and giving POW £2mil, converting the warrants, and then dumping them. But would seem an unlikely move.

As far as I am aware, outstanding warrants should remain unaffected in relation to a share buyback just like outstanding warrants remain unaffected when a business does the opposite and dilutes shareholders via placings etc.

Of course my example earlier today said the share float would reduce to approx. 60mil. Highly likely (although no guarantees) that the share price will go up significantly once the float is in better hands and warrants will get converted accordingly which would increase the 60mil share float but also bring cash into the POW business bank account.

Outstanding warrants currently range from 15p (those held by ACAM) all the way up to 100p director options.

If POW sold GMET now they have taken a circa £2mil initial investment and achieved the following:

1st Tranche of GMET shares = £9,225,084

2nd Tranche of GMET shares (53p mid price) = £13,214,406

PROCEEDS FROM GMET SHARES = £22,439,490

PROFIT FROM GMET INVESTMENT = £20,439,490

So yes, let's all sack the CEO who came in, got GMET listed and created a £20mil+ investment profit from that venture just because the SP hasn't moved!

I would sell GMET today in a heartbeat. POW then have approx. £20mil in the bank which is excessive levels of working capital. I would leave £10mil for future working capital purposes and use £10mil for an aggressive share buyback to put the POW float into solid hands whilst the stock is so undervalued and you can take more stock out at such a cheap price.

£10,000,000 share buyback at 18p a share (circa 50% premium to the current SP) buys back around 55.5 million shares. I doubt there would be a full uptake on that, but it would allow every single POW holder who has fallen out with POW the much needed liquidity to clear off the register and 18p becomes the new base as the only holders left are those that have rejected 18p and feel the company is worth a whole lot more.

If fully taken up, the current 115.5mil share float drops to around 60mil and all the remaining "POW believers" also get a much bigger % of the POW pie with £10mil in the bank still for future working capital commitments.

A no brainer if you ask me but much easier said than done to pull off but I'm also not fully sure of the share buyback rules/limits etc.

Couldn't have put it any better Doc83.

The POW float is held by so many holders that just watch the SP and nothing else. Until they disappear, this stock will simply not move. The only way to get the float into better hands is liquidity. Hence why a share buyback is so desperately needed in my opinion as POW have the working capital position to make it happen.

A good chunk of the POW share float is in the hands of those that think management and POW in general are performing poorly just because the SP isn't moving up.

1) The company trades at a 50%+ discount to NAV

2) The company has over £20mil of working capital on hand through cash & listed investments

3) The balance sheet has doubled in a short period of time.

For me, the company is in very good hands and outperforms almost all of their peers from a financial point of view.

A share buyback would let those easily leave who think POW are performing poorly (they are currently restricted from leaving due to AIM liquidity issues). The share buyback would also reduce the shares in issue and give the "POW model believers" a larger % piece of the POW pie. A Win/Win for all.

The best strategy in the short term Paul1Deano for me would be to do an aggressive share buyback to get every single POW holder off the register who thinks that doubling your balance sheet in a 12-18 month period is a sackable offense.

The float then moves into the hands of those who understand the POW model moving forward and the SP will the react logically to positive news.

Mostly sells.

A share buyback is so desperately needed to get the POW float into better hands.

Wouldn't want to be the guy on here shorting SWC from earlier this morning who said:

"£50 a point short here @ £2.43 Should come back down a tad bit for a pause"

Latest Stockbox interview is out regarding POW's uranium exploration strategy for this year

https://www.youtube.com/watch?v=wrujg18gh04&feature=youtu.be