RE:RE:RE:BNN picked up the storyI don’t quite agree with the “all or nothing” statement from ScarletSpider although it is true that the big rewards in the near future depend on the success of the upcoming pilot project. There is very little chance this company will go bust as it has been around for 17 years, it has no debt, and knowing their history of being able to reinvent themselves, I’m sure they are working on new ideas on how to capitalize on their technology. I’m pretty confident their pilot project will be successful as they completed all the necessary tests to de-risk this project, which unfortunately contributed to some delays in its execution. Of course you can’t be 100% sure that the project of this scale will be completed w/o hitting any snugs. However, the management must have a lot of faith in their success as they hold about 30% of all the outstanding shares and they are not selling them yet although they could make a significant profit at the current price.
The company sold their successful high-performance-computing unit to AMD in 2018 for over $ 3 mln (CAD) to be able to concentrate on the RF heating. They still sell their seismic and electromagnetic software which they also use for modeling the RF heating. This company has no debt and the upcoming $19 mln pilot project is fully funded. How many companies can achieve anything like this? I won’t be surprised if they come up with new ideas for other applications of their revolutionary technology. They already patented the transportation of solidified bitumen by rail cars that would reduce the environmental impact of potential accidents on land or sea although they are probably too busy right now to work on any implementations. This concept would work very well with their bitumen extraction process that doesn’t use any dilutant.
Yesterday’s drop in oil price probably hindered the rally a little bit after such a great NR but hopefully the SP will go only up from now on but you never know.