RE:RelaxGreat points Oilminerdeluxe, and MidtownGuy brought up some great points (from ceo.ca):
@MidtownGuy For the record, there is no inter-governmental issue, dispute, conflict, disagreement, or quarrel between the Saudi and Canadian governments insofar as the Drosrite in Saudi is concerned. There is nothing government-to-government or country-to-country related -- at any level or in any manner -- in anything to do with the delay in Drosrite for Radian / Ma'aden. The customer is simply not ready to receive the systems due to their own delays relative to the factory and workspace: resourcing, construction, etc. @MidtownGuy Also for the record, PYR is in constant contact with them, for both a delivery and accounts receivable perspective. Keep in mind The Company has engineers on the ground in Saudi regularly, for ongoing advisory and evaluation services for the existing Drosrite units and monitoring and testing of the dross. It's an ongoing, intact relationship. @MidtownGuy The additional Drosrite systems are dearly desired by the end clients, as it's a profit stream they are aching to have; it's a major frustration to them that they are not in a position to have them delivered and installed. @MidtownGuy It was a slower quarter than hoped, but not due to client or prospect rejection. As mentioned in the Outlook, many of these giant organizations have been extending their processes and pushing back their decision-making longer than anticipated due to continued logistical corrections and catch-ups. PYR wasn't experiencing "no"s, but rather a series of "not yet"s. Delays, not rejections. Hopefully we see these companies returning to normal logistics and decision-making moving forward. Meanwhile, PYR has been growing the pipeline even more while continuing to refine the production, as seen in the stellar 43% margin. Long and Strong in PyroGenesis!
Oilminerdeluxe wrote: The company is evolving. it can't do much about delays. They are at the mercy of clients and customers. No one likes it when things are not running as smoothly as desired. But the world is not normal and has not been normal for a few years now. It will just take a bit longer than first thought to develop orders and cash flow. Remember, we have something called torches. Soon to be tested. Soon to be sold.