RE:Financial results are on Sedar.comI’m starting to understand the reason for the drop in share price and lack of enthusiasm for PSE. Our JV partner Arkmetal is holding on to the profits pretty tight. We ended the year with cash of close to $750,000, meh.
The bulk of the profits will not be paid out as a dividend to the JV until 2019. That is $1,000,000 USD to PSE in 2018 and $6,000,000 USD in 2019. This may be a 50/50 JV but Arkmetal’s seems more valuable since they control the money. Nothing to get exited about here. This “little” detail about the JV was never discussed during all the promotion that PSE management was making last year.
The end of May should bring the release of the 1st quarter numbers, let’s see if the out Turkish partner’s are generous with the distribution of the profits.
GD