Pyrogenesis Canada Inc T.PYR

RE:RE:RE:RE:CONNECT DOTS AND AVOID BEING TRUMPLED

[BCONTVentures]

And from @pennytodollar:

@pennytodollar Very interesting - I've always been of the mind that PYR just hit a ridiculous series of delays with clients due to completely external factors like 1) Merges and Acquisitions behind the scenes 2) Absolute mechanical failure of a test furnace that was used for a test furnace because it was at end of life and prone to failures 3) Weird and inconsistent funding for tunnelling that should become more straightforward but fell behind 4) Whatever disaterous year Boeing is having such that they kept giving certification timelines to PYR that while general still got overrun by insane degrees.

I think eventually we will understand more of what caused unexpected delays well beyond the timelines the clients gave PYR for ballpark estimations. We won't get to know all of it for sure. Things like this lend themselves to the theory though.

I'm still extremely excited for the next several years of developments.

BCONTVentures wrote: And from @ToolmanTim:

@ToolmanTim Wow @stonks_r_us a great find. It sheds so much light on the “why”. Large Capital expenses are put on hold while deals like that are being negotiated. Green means “Go” now.

And a great find from vestmed on Ma'aden:

https://www.maaden.com.sa/en/news/details/598

This potential combination of Ma'aden's aluminium business and Alba will create a global powerhouse in aluminium production. It will bring together more than 75 years of combined experience in operational excellence and performance with the financial strength and production capacity to compete globally.

BCONTVentures wrote: And from @deedeemgee:

@deedeemgee ^^ Best theory I've seen, thanks @JetsFanYEG


@JetsFanYEG @stonks_r_us awesome! Peter mentioned they delayed receiving the payables for a Drossrite contract for the purpose of greater opportunity in the future. After reading this deal with Maaden and Alcoa it makes sense what he was talking about, before it was a joint venture which can be limiting in how capital expenditure is allocated, after this deal there should be better autonomy to make deals. I like that they also mentioned a JV with Vale which we are all familiar with as well, this should all be good for PYR imo

@JetsFanYEG Maaden probably approached PYR and said listen we have a deal to buy out the JV with Alcoa that will allow us to wholly control our aluminum business and we foresee a future with many more Drossrite systems but until the deal is completed can you hold off on shipping the systems and allow the invoices to go past due because getting Alcoa to approve additional expenditure in the middle of this massive deal is not easy. If you work with us now on this issue the future for both of our companies can be much brighter! All speculation of course but makes sense to me

BCONTVentures wrote: And some great points from @JetsFanYEG on this:

@JetsFanYEG @stonks_r_us awesome! Peter mentioned they delayed receiving the payables for a Drossrite contract for the purpose of greater opportunity in the future. After reading this deal with Maaden and Alcoa it makes sense what he was talking about, before it was a joint venture which can be limiting in how capital expenditure is allocated, after this deal there should be better autonomy to make deals. I like that they also mentioned a JV with Vale which we are all familiar with as well, this should all be good for PYR imo

@JetsFanYEG Maaden probably approached PYR and said listen we have a deal to buy out the JV with Alcoa that will allow us to wholly control our aluminum business and we foresee a future with many more Drossrite systems but until the deal is completed can you hold off on shipping the systems and allow the invoices to go past due because getting Alcoa to approve additional expenditure in the middle of this massive deal is not easy. If you work with us now on this issue the future for both of our companies can be much brighter! All speculation of course but makes sense to me

@stonks_r_us Does anyone know if this had anything to do with the delays in Drosrite contracts? https://ca.finance.yahoo.com/news/alcoa-1-1-billion-stakes-151843858.html .. maybe things will start to move now that this is nearing an end.

Ilocanuck wrote:

MONTREAL, June 26, 2024 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, is pleased to announce the receipt of a USD$3 million (CAD$4.1 million) payment of an outstanding receivable under the Company’s existing CAD$25+ million Drosrite™ contract.“The payment announced today is made in accordance with a payment schedule that has been revised over time to better align to the pressures on the end-client’s operating cash flows created by increased business opportunities,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis.As previously announced, PyroGenesis contracted with Drosrite International LLC, which was in turn contracted by Radian Oil and Gas Services Company for an order of seven (7) Drosrite™ aluminum dross recovery systems. The first three systems were manufactured by the Company and delivered and are in full commercial operation for the Ma’aden aluminum plant in Ras Al-Khair Saudi Arabia, a joint venture corporation with Alcoa. The facility at Ras Al-Khair is known to be the largest and most efficient vertically integrated aluminum complex in the world and boasts one of the world’s largest smelters1. 

The remaining four Drosrite™ systems under the contract have already been manufactured and are expected to be delivered to the end client’s operations in Saudi Arabia.

Alcoa to Get $1.1 Billion for Stakes in Saudi Aluminum Plants

By Bloomberg

Sep 15, 2024

Saudi Arabian Mining Co. will wholly own its aluminum business, and Alcoa will hold a 2.2% stake in Maaden once the deal is completed.

 

(Bloomberg) -- Alcoa Corp. will receive $1.1 billion in cash and stock in Saudi Arabian Mining Co. as part of a deal that will involve the Pittsburgh-based firm selling its stake in two metals plants in northern Saudi Arabia.Maaden, as the Saudi firm is known, signed a deal with Alcoa to purchase its holdings in a bauxite facility and an aluminum smelter for 563 million riyals ($150 million) in cash and 3.6 billion riyals of stock in the Riyadh-based miner, according to a statement Sunday. Maaden will wholly own its aluminum business, and Alcoa will hold a 2.2% stake in Maaden once the deal is completed.\“The transaction simplifies our portfolio, enhances visibility in the value of our investment in Saudi Arabia and provides greater financial flexibility to Alcoa, an important part of improving our long-term competitiveness,” Alcoa Chief Executive Officer William Oplinger said in the statement.Alcoa formed a joint venture with Maaden in 2009 to develop a $10.8 billion bauxite mine, refinery, smelter and other facilities. It was part of a push by Saudi Arabia to diversify beyond oil production and exploit the country’s other natural resources.Maaden has since become an important part of the kingdom’s strategy to develop into a key supply chain and processing hub for metals and minerals needed for the energy transition, including for electric vehicles. Maaden formed a joint venture with Saudi Arabia’s powerful sovereign wealth fund to invest in minerals around the world, and signed its first deal last year involving the acquisition of a 10% stake in Vale SA’s base metals unit.

GOOD LUCK TO ALL PYROGENESIS CO-OWNERS.