This is DEFINITELY NOT a beautiful story ...We have done a good number of things right and to date this has not been reflected in the market price of the stock which I believe topped $1/share in the last couple of years.
Unfortunately to date, on a couple of occassions, we have not implemented both the Directors resolutions to spin off a section of the company. This actually is a fabulous strategy and should apply to several of our business segments.
We neither have the finance to proceed to realize the amazing profits to these segments and we rely on unrelated 3rd parties or related family members to collect most of our dutifual rewards.
There is no doubt in my mind that PYR should be taken over but only after a number of spin outs to enhance shareholder value. Peter is aging very quickly and in the past I have suggested retirement.
The succession plan should be spin out (which I also have suggested in the past, actually some mining companies have regularly spun out their segments and these are now worth multiples of the spinor ...).
We simply do not have the financial whetherall to finance all these endevaours ourselves (and probably be do not have the business skills for to monitor all these businesses). This should be the plan going forward.
I am in favour of a major owning a 20% shareholding in PYR and if comfortable a takeover after spinouts. I also have said this on this board.
I actually believe this stradegy should provide us with the vicinity of $4 to $5/share. OK, please do your own due diligence.
I know that this is now the market where we cannot fully realize my expectations however babysteps are now in order. How about the twice promised (never delivered) spinout of the additives business since folks are busy doing 3D printing at home and the cost of 3D printers continues to fall in price. I recently read an article that most of the PPE masks, etc can now be made in the USA at home to satisy the market. Incredible!!
Lets revise our business plan to reward shareholders, please.
Thank you, Peter. You have done a great job to date but time to put in a succession plan!!
Flush777