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Progressive Planet Solutions Inc V.PLAN

Alternate Symbol(s):  ASHXF

Progressive Planet Solutions Inc. is a Canada-based manufacturing company. The Company is focused on developing critical low-carbon and carbon sequestering solutions using its owned mineral assets and recycled materials to create planet-friendly products, which are being developed at its C-Quester Centre of Sustainable Solutions for the cement, agricultural and animal care industries. The Company’s product lines include patented and patent pending products which are developed using naturally occurring minerals and the urban mining of recycled materials. Its products are available in over 10,000 retail stores across North America. It focuses on reducing the carbon footprint of the global cement industry by developing sustainable alternatives to traditional cement. Its mineral based products include Activated Barn Fresh, Can Blast Abrasives, CAN DRY, Fresh Coop Odour Control and Red Lake Earth, among others. Its operating mines include Red Lake Mine and Bud Bentonite Clay Mine.


TSXV:PLAN - Post by User

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  • 15StanmoreX
Post by 15Stanmoreon Dec 04, 2024 3:21pm
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Post# 36345794

Q2 2025 Results (Post 2) NBV per share

Q2 2025 Results (Post 2) NBV per share

As previously predicted, the NBV per PLAN share increased from $0.119 as at July 31, 2024 to $0.125 as at October 31, 2024. Coincidentally the closing market price for a PLAN share was $0.14 on both these dates.

In retrospect, the 696,000 shares acquired in October under the approved NCIB at an average price of $0.12875 should technically not have been purchased as the Company paid more in cash than the shares were worth on the books. That being said, the average price paid for all 2,735,000 shares bought to date under the NCIB was $0.1055, including the 696,000 in October, so still onside in total.

I would have preferred to have seen the Company not chose to sit on the sidelines in September and so miss out on acquiring the remaining 2 million shares under the approved NCIB at prices under $0.09 per share. Based on what we now know of the good news that was happening in August and September, I am disappointed our management team decided to postpone further purchases, anticipating (I have to assume) that the market price of a PLAN share would fall below $0.085 per share. When it did not, they had already missed the opportunity, and instead re-entered the market at $0.12875. 

Another concrete performance observation that needs to be added to the official Corporate Memory of valuable lessons learned.

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