PyroGenesis Canada Inc (PYRGF)

[Tom Joad]

re: meltless titanium and more

Meltless titanium powder seems to be a category that includes milled titanium powder. Meltless seems to correlate with "less expensive to produce" and not necessarily with much less quality. The topic appears to be a new one when I do searches on Google Scholar because there's not much. I say stay on top of it as best you can.

ATI or Allegheny Technologies Incorporated, is not a company to be trifled with. They've been in the business for some time. Recently they reorganized to focus on metal product production and when you visit their site it's really clear they're not new to the game. Here's a Motley Fool starter but I caution you, Motley has some real nincompoops writing for them so do extra research. In fact, a nincompoop writes about ATI occasionally, just not this article. I just use Motley to "window shop" for investments for that reason.

https://www.fool.com/investing/2017/06/13/5-best-titanium-stocks-to-buy.aspx

I have some money on Pyrogenesis but I'm not comfortable with their CEO, Pascalli. Current or ex "investment banker" doesn't a friend make me, however, some of the people on their board and some of their employees have a clear understanding of their products so that's where their potential lies. Management and company culture are very important to me when considering an investment so I'll keep a small percentage invested, look for opportunities to trade, and wonder if they can replace Pascalli without making their stock crash to nothing. That said, metal additive is a very real game changer. It's not often and in no way insignificant, when technology comes along that makes meaningful changes in productivity. So, there could be room for a company like Pyrogenesis to take off in a meaningful way.

Yes, I posted a press release on the warrants and it does sound promising. Where to find filings for Pyrogenesis? Here-

Sedar

I haven't researched these warrants but I bet you'll find them embedded somewhere in those filings. Let me say, I would LOVE that a solid and major investment strategy would include Pyrogenesis. Finance is my weak point. I'm not so solid on management. If someone can do the research on these documents and say they're very promising with a convincing argument, I'll change my mind about Pyrogenesis and think of investing more for the long term.

GE has been awfully quiet about Arcam developments and I believe that has to do with GE not owning Arcam but having controlling interest. For example, I've seen enough pictures of that laser printed fuel nozzle, and not enough said about Avio Aero's EB additive, which is major. They're setting up a factory for production of LP blades and repair of LP blades. They have a new turboprop based partly on EB parts. There is huge future value in all of that.

Seen from GE's point of view, they're making a monu mental commitment to additive that involves developing an institution, a company culture, and research around additive manufacturing. They want commitment on Arcam's part as well, and they do have that, but GE doesn't own them. My bet, Elliot isn't mentioned favorably at GE but I believe Elliot is doing the world a favor by keeping powder EB additive a somewhat democratized technology. Think of the technology moat and the natural monopoly GE would have if GE refused to sell Arcam machines outside the company. That won't happen because GE would loose their involvement in the additive dialogue, but you get my point. Elliot has also done anyone with stock in Arcam a favor, from the offer price of 33 a share to around 40, that's a 21% increase in less than a year thanks to Elliot.

I don't know the agreement about profits between GE and Arcam. It would seem to me that GE can gain by helping Arcam increase its capitalization.