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Good news. It's been a long wait. I'm thinking that Daichu is playing the part of the middle man to mitigate the risk that the power companies didn't want to take by being the first to use the technology. Good move.
Phillip
Yes level 2 is interesting right now. Any insight to what's going on?
Phillip
The part about this that caught my eye was the additional two acres on the Red River and additional land. Minutes to the port meetings had discussed looking for additional land on their North Tract where biomass is at but also Port staff was also running a meeting at a neighboring port. I'm speculating this might be where the additional two acres will be obtained from.
Phillip
Yes, they are installing in other states also. I agree Commiefornia is awful. I live here, but for battery backups it's a good thing. There are huge SGIP rebates being offered here. In my case I just got one that paid for the entire Neovolta NV24 system being installed because I'm on a well in a fire prone area. Plus with the time of use power rates where power is 60 cents per kWh at one time of day and 9 cents on other parts of the day being able to store cheap power and use it during expensive times makes sense.
Phillip
Well, I'm sure your gas prices still have a ways to go before catching up to us here in Commiefornia. We can't blame a ransomware attack though. Just our own stupidity.
Phillip
The other thing that I read about the supply chain is that the timber industry closed a boat load of mills and that is where the bottleneck is. Perhaps selling whole logs to biomass won't be impacted as much but I imagine that labor could be a bottleneck. Why use your labor pool for low value logs if there's demand for the expensive stuff. My understanding though is the area around Natchitoches is economically depressed so maybe the labor pool is okay in that region.
Like you, iin still here also. 21 years now so I'll go down with the ship at this point if that's the case. I guess I'm sedimental over the potential this company has. No point in selling at these prices anyway.
Phillip
This company seems to get hit by external circumstances every time there's the most remote possibility that it can get moving. I'm looking at timber prices right now and wondering if this is the next circumstance after Covid that will put another nail in the coffin. Does anyone else have any thoughts on this?
Phillip
*projects
I was keeping an eye on the port minutes. They use code words for protects that are publicly traded companies. Biomass used to be Project Skate. They stopped talking about it completely. They have a new project that could be biomass that started showing up in the minutes when they stopped talking about Skate. I'm keeping an eye on that one. Lots of news but not sure if it's our company.
Phillip
Interesting that the Port's minutes are now mum about Project Skate. The silence is deafening. I have the gut feeling something is about to happen after this long silence.
Phillip
MM from Canaccord Genuity consistently has bids and asks. So does ETRF, GTSM, and CDEL. Playing both sides of the fence.
Phillip
Probably. Must be trying to get 0.003 cents per share while they can. Buying and selling shares being printed.
Phillip
Plenty of shares now, but there's a lot of activity by Canaccord Genuity on Level 2. Name should sound familiar to long term holders.
Phillip
Power is out all over Southern California today. 100 generators sold at Harbor Freight. NeoVolta is a prime candidate to benefit from these blackouts.
Phillip
Citadel and Knight are manipulating this stock. Watching Level 2 quotes for the last couple of days. They knock it down and then lower their ask price with huge blocks that prevent the stock from moving up. The bottom will be when they say it is.
Phillip
I doubt it. I don't think the company can even enter the United States from Canada. At least last time I checked. Things could have changed. . .
Thanks for the update.
Phillip
He lives here in California, but was back home in Louisiana visiting when he took the previous pictures. To my knowledge he hasn't been back since. My guess is that nothing has happened based on the company's latest filings. Even the Port meeting minutes are AWOL since February. Not sure if it's because they haven't posted them or haven't had any meetings since then due to Covid-19.
Phillip
Thanks for the update. I figured Covid put a freeze on everything. Not even sure Jim can fly to the US right now.
Phillip
Thanks for the update.
Phillip
Not much in the way of news, but the December minutes for the Port were released and mentioned that BMSPF was going to be on site in early January.
Phillip
I don't know of anything, but perhaps those buying and selling do. I've never understood the price and volume movements of this stock.
Phillip
You forgot Japan...
Phillip
New filing out on Sedar. Not sure what to make of this. Dilution or buying Jim's interest in the company?
Phillip
****************************************
Subsequent Events Affecting Business Plan
October 1, 2019 the Company signed a Consultancy & Partnership Agreement - Capital Raising and Advisory Services with EFW Capital SA, a company incorporated in Lausanne Switzerland. EFW has introduced the Company to a group in South America that is interested in buying a significant share of our Company. If we are successful in completing an agreement it will lead to a quick start in Natchitoches and the construction of plants in Brazil.
EFW has also introduced a European power company that owns six plants in Europe presently burning coal. They are looking to convert all the plants to Biocoal we expect a final decision by end of year.
Let's just hope that these agreements aren't ones that would have otherwise gone to BMSPF. I still have to think that torrefied wood in large quantities at the same price as white wood would provide a competitive advantage that can't currently be matched.
Phillip
Yep. If the Japanese power company avenues are moving forward, I'm sure the agreements will be held up by the attorneys for some time. Not to mention the sample testing that is supposedly being done. The fact that the companies have land holdings in Vietnam makes it sound like they were already on the path to committing to biomass. The torrification in large quantities is a competitive advantage that I think is probably the only thing keeping BMSPF on the radar. We've been spinning the wheels for 20 years, so we're probably at a point where the tire will finally get traction or have a blow out and go flat. If Jim met with 19 companies, he's obviously not giving up yet.
Phillip
Happy Friday Waves.
Phillip
Thanks for posting. There's definitely potential. I get news alerts constantly talking about market projections being huge in the next 5 years. Million dollar question is whether BMSPF will be part of the market. Large scale production of torrefied biomass would definitely be a competitive advantage.
Phillip
I checked your removed posts. They were removed by "Mod Squad".
http://ihwiki.advfn.com/index.php?title=FAQ:Mod_Squad
Phillip
At least we know what the delay was now. Funny, I looked at Sedar yesterday at lunch and the filing wasn't there.
Phillip
I haven't removed any posts.
As far as being quiet, personally I don't have anything new to say. If there's anything worth mentioning one way or another, I'll respond, but I'm not going to argue any position if I don't have facts to back it up. Maybe I've lost my entire investment like everyone else. That was always a possibility, so I can't complain if I lost on something when that was a known scenario. It's kind of like going to the casino and then complaining when I lost.
Phillip
No one can prove you wrong or right. There isn't any proof except from insiders. Facts are limited:
-They missed another deadline and there hasn't been any news updating shareholders.
-George Pappas has resigned from the BMSPF Board.
-Andy Burns no longer appears to be operating AH Burns Energy Systems.
-The latest approved meeting minutes (July 2019) from the Port indicate that they have received funding for the overland conveyor, but qualify the statement by stating that the funding can be diverted if the project doesn't come to fruition.
-The Port's north tract expansion is due to another company needing land.
Phillip
Your right, we don't know much. We do know one thing though. There's another deadline missed with no news as to why. Just like all the other times. Is there latest road block a fatal flaw or a temporary hiccup? Dunno. I'm looking for facts before concluding anything. I have delays and changes in most of my projects that are outside of my control. They don't alarm me, but I trudge on. The thing that worries me most is the age of management. Will they be in a condition to keep moving or pass the baton.
Phillip
I probably haven't done any better than you in the last 15 years. The highs and lows of this stock have dulled my reactions though. I no longer get excited when the price goes up nor do I get that gut wrenching sickness when share price plummets. Long ago I concluded this will either be worth nothing in the end or worth a fortune. Like you said in another post, this is a penny stock with inherit risk. I've taken on that risk knowing that I could lose everything. I've also looked at this from the perspective that it is my fun money and not what I'm banking on retiring with. Yep, it's a long shot, but if you read about Milton Hershey's life he went from rags to riches with everything stacked against him.
Anyway, I hope you get your price. I figure I'll go down with the ship unless there's something more tangible to steer my decision one way or the other. By then it will likely be too late to decide anything.
Philip
I've endured the price drops dozens of times. Never knew the reasons behind them, but each time there's a drop with significant volume, you have to wonder if "this is the end" . . . then when the price goes up with significant volume you're left to wonder if "this is just the beginning". My prediction . . . it will be one or the other. :)
Phillip
Your theory is just as valid as any other. Simple fact is that only the insiders know. Drax I think was the guinea pig and everyone was seeing what happened with them. The other thing is so much if this business depends on what legislative mandates every country comes up with to switch to renewables. I can see this changing with every election and impacting power producers commitment to make the change. Again, just a theory. Anyway, sink or swim, I'm in for the long haul. Not much of a choice without any buyers out there. If there Port is looking at expanding the acreage around the BMSPF site maybe we'll get lucky and it means the project is being expanded and that's the delay. Dunno. Money was the other hurdle with construction costs coming in much higher than anticipated. Lots of things to throw a wrench in the works. I manage a project right now that's two years behind schedule so I have the unique perspective of knowing stuff happens to cause delays. Hopefully that is all it is.
Phillip
I know your frustration. I've purchased high and held for years while averaging down. One thing I've learned is you will never get negative news from the company. Deals will fall apart and you will never know what happened. I stopped asking Jim for a number of reasons and started pursuing other sources for information. Public meeting minutes are one of my favorites. Port of Baton Rouge and now Natchitoches. Latest minutes don't say much, but the are working hard to expand the land available around the BMSPF site. If they were going away I would think they wouldn't be expanding. But this is conjecture. Lots of pieces I wish I knew about. Then again until deals are final (if they happen) those pieces would be insider information. I wouldn't blame Jim for not releasing that.
Phillip
I posted the pictures. A guy from our church (California) was visiting home (Louisiana) and stopped by the site for me. He's also a shareholder.
I doubt there's any construction staking/equipment though. While I don't have any inside knowledge I manage multi-million dollar construction projects. Once the green light is given, there is so much that has to be done before construction starts that I can't imagine that any field work would be started yet.
Phillip