PyroGenesis Inc T.PYR

Drosrite Int'l /Radian's payment

[StairwayTo]

This is what we were all told over a year ago:
The balance of$6.2M to be paid on a monthly basis over the next 6 months.
I don't make this up, facts from the company's NR.
A year later they say the balance $8M should come by Q2 end.
Un-fkn beleivable
 
February 2023
Payment Schedule under DROSRITE™ Contract
As previously announced by the Company on October 4, 2022, an additional payment of approximately $682,000 (US$0.5 million) was received under the Company’s DROSRITE™ contract. At December 31, 2022, a balance of approximately $12.8 million (US$9.4 million) was owed to the Company under the DROSRITE™ contract.
An initial off-site facility has been commissioned by the end user of the DROSRITE™ systems and is fully operational since April 2022. The construction of the on-site facility, using DROSRITE™ systems, has begun, and the Company has agreed, following discussions with its customer and its financing partners, to revise the payment schedule with its customer while it is completing its additional financing for the on-site facility. As a result of the strong relationship developed with the customer, the Company believes it was in its best interests to support its customer. The revised payment schedule provides for the payment of US$1.5 million in the coming weeks, followed by US$6.2 million to be paid on a monthly basis over a period of six months commencing in April 2023, with the balance to be paid at a later date to better reflect the timing of need and usage.

[kjs4381]

You know full well that there was an update to those statements.  If you're  going to post, please make sure you post the truth. The update stated that PyroGenesis was consulted and agreed to a revised payment schedule to better align with the end user. This was PyroGenesis creating some good will with a customer who in all likelihood will be a major  player in PyroGenesis

[Mostlyserious]

The update below was included in the year-end financial statements. That's an update and the much needed result that i am looking forward to.  But keeping in mind that the previous updates and some specific actions did not happen as expected, why would someone be banking on this one to pan out?  Month and a half to find out. However, you seem to claim that they have already started

[kjs4381]

You were misleading people with your previous post, because you referenced a news release that mentioned a payment schedule that soon changed.  You focused on a payment schedule knowing full well it had changed and that is misleading. If you post it, at least own it.

[Mostlyserious]

Please note that "you" or "I" is not who posted the Feb 2023 news release. I posted the latest one. In terms of your food for thought, after you found out how big Radian is and that the Alcoa/Ma'aden is one of the biggest joint ventures in the aluminum industry of its kind, I don't understand how you can feel good about a company struggling to find cash (CEO's

[kjs4381]

Ok,I see where you're coming from now. I totally agree with you, about how can a little company like pyrogenesis be the one helping out a huge  company.  I do get that and believe me I was angry about it. It didn't make sense, especially when pyrogenesis needed the money so bad. Best way I can explain it where it makes sense is, pyrogenesis needed to get their foot in the door

[Holdrrrr]

There's no way you can win with this basher group.  They just keep bringing the same things up over, and over, and over, and over.  And whenever someone straightens them out and corrects them, they just move onto the next hit and start over, burying the correction to their nonsense onto the next page of posts.  After a day or two, they bring it out again in a fresh thread. I

[Mostlyserious]

A company purchased your system and is supposedly making money of it.  You demand payment after a number of years, not months, and you are afraid there will be no more business from them?  Is that the kind of partner that you want to do business with?  If they are benefiting from your system why wouldn't they purchase more if it makes sense? There are probably things we don'

[paul03]

Directly from Ma'aden 2023 annual report. Make of it what you will. If indeed they're talking about Radian and ultimately PYR it seems like it's finally all coming together.    "19.1  Build Own Operate Transfer Contract agreement (“BOOT agreement”):   During the year, the Group obtained the required permits from the Royal Commission for Jubail and Yanbu

[Yajne]

I realize that years of water have gone 'under the bridge' since the 2018 fiasco when a prominent member of Libs C. Freeland, then minister of foreign affairs, delved into Saudi Arabia's business by casting criticism, basically delving into Saudi Arabia's internal business. Im sure many of you recall how frosty relations between Cda and Saudi became, and to this day firmly believe

[wasitreallyok]

Likely been a lot of diplomats working through a solution

[Uncleron]

No thanks to PM Turdope for wrecking relations with Saudi Arabia....and the WAR with the Houtis in Yemen that Saudi Arabia was fighting....Otherwise we would have had a  " DROSRITE  PLANT " already constructed in the middle east...the first of many worldwide  !!!....Meanwhile the dross slag  piles keep growing, which will eventually have to be recycled and Pyrogenesis

[dalesio_98]

How many years have excuses been made ...

[HARJAY]

Well we don't know the circumstances that caused these delays , i presume either do you ? so when the payments are made the co.  might share what happened or might not but until we get the payment instead of speculating the only thing to do is wait .

[BCONTVentures]

Keep in mind that PyroGenesis was at ARABAL (held in Saudi Arabia) last fall.  At this conference, PyroGenesis showcased aluminum sow ingots produced by PYR's DROSRITE technology (from Radian Oil and Gas Services). In these pictures, you have Juan and Omar from PYR along with the CEO of Radian Oil and Gas Services and a member of the HAKA Group.   Like kjs4381 says, one needs

[tamaracktop]

"I expect some here won't get it" I'm sorry to tell you, but you're beyond hope.

[StairwayTo]

I posted the previous payment agreement to show that, not because they said they will get paid in such a way, that they will get paid. So I doubt very much this time, with the latest payment agreement, that they will get paid.@ besides why would they set a reserve for bad debt for $5,000,000? @I forgot the exact amount @ @