The window for success is nearly shut Pendura made it sound like the company would be successful in producing platinum within mere weeks ever since around June 2023. Then it was month after month of failure and excuses. Meanwhile the company kept burning cash. Now the cash has run out, and there is still no evidence that module 1 is capable of producing any significant quantity of platinum.
The latest excuse is that they do not have enough catalytic converter feed stock, and what they do have is too low grade. This just shows how much they misled investors. Last year, they told us that there was a glut of catalytic converters, so they would have no problem getting plenty of them to process. They also told us that the whole purpose of this process was to use low grade catalytic converters that the smelters could not handle.
With the cash running out, the window for success is nearly shut. All the misleading "forward looking statements", delays, and excuses have finally caught up with them. Bankruptcy is a definitely possibility at this point. Maybe someone will buy whatever is left and try to make this work. The current crew is obviously not up to the task.