RE:How does it feel to be right so often? Lolll
Yesterday was rather nothing more than shorts getting caught their pants down having to run to cover. Classical pattern.
This morning, shorts are shorting the stock in order to limit their loses of yesterday. You can easily see this as the bid is always hit. Another classical pattern from shorts.
But shorts will permanently get burn sooner than later as there are more revenues coming up over the next 2 months now, as per this May 10 guidance:
Business Line Developments: Near Term (0 – 3 months)
Financial
Payments for Outstanding Major Receivables: The Company was notified that Radian Oil and Gas Services Company has commenced transfer of the US$1.5 million (approximately CA$2 million) against the outstanding receivable of approximately US$9.5 million under the Company’s existing CA$25million+ Drosrite™ contract. As previously announced, PyroGenesis agreed to a strategic extension of the payment plan, by the customer and its end-customer, geared to better align the pressures on the end-user’s operating cash flows created by increased business opportunities.
Innovation Grants: The Company has applied for grants tailored to technology innovation and/or carbon reduction, and expects to have results regarding these applications.
Commodity Security & Optimization
Negotiations for Multiple Metal Powder Orders: concurrent negotiations are underway with several companies for commercial orders of the Company’s metal powders, which are expected to be in excess of $1million.
- Product Qualification Process for Global Aerospace Firm: Based on information flow between the Company and the Client, the Company believes that the previously announced 2-year long qualification process to approve the Company’s titanium metal powers for use by a global aerospace firm and their suppliers, will conclude in the near term.
Energy Transition & Emission Reduction
Plasma Torch Order: The Company is in advanced discussions with an international entity, whereby a plasma torch contract, if signed, will be between CDN$3-$4million.
Iron Ore Pelletization Torch Trials: In April 2023, the commissioning of the plasma torch systems, for use in Client B’s pelletization furnaces, was underway, with the Company’s engineers onsite at the Client’s iron ore facility. The commissioning process includes installation, start-up, and site acceptance testing (SAT). “Client B” is the customer to whom the Company previously announced that it had shipped four 1 MW plasma torch systems for use in Client B’s iron ore pelletization furnaces, for trials toward potentially replacing fossil-fuel burners with plasma torches in the Client’s furnaces.