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Yes, although I'm naturally disappointed in Fred's announcement,...

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RVR

4,092 Posts.

496

05/07/18

18:07

Post #: 34169109
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Originally posted by BobF ↑

Here is what Vlad said in response to my "spin".

" ... Nothing there reads like they're going out of their way, their involvement continues, as in it is not yet finished. Their involvement will continue until the product is ready or AP gives up on the idea. I love the spin you put by saying 'going out of its way' - they are getting paid for this (refer R&D budget) and are not doing it for love. Unless there was a strategic agreement, sharing of costs, or investment by the vendor into AKP, I doubt they are as invested in this as AKP. That's not to say they're not working hard towards helping AKP achieve its outcomes, but definitely not a 'fact' derived from the announcement. ... "

Here is what the announcement said:

"... The vendor is continually working on fine-tuning the process to achieve the required outcome, with an upcoming shipment of newly refined wafers due this coming week. To ensure the success of this overall effort, the vendor has additionally inserted many dozens of additional wafers into the production pipeline... "

I think that the following needs to be read in conjunction with following excerpt from last years AGM presentation from Danny Lewin:

" ... As many of you know we benefit from being in close physical proximity to Tower’s fab and their process engineering teams. Our engineering teams are able often and on demand in order to deal in a common language with any and every issue as, or even before, it arises. This dynamic affords both companies unprecedented opportunity to avoid missteps while streamlining development of the fabrication processes. If the research I mentioned before means anything it leads us to believe we have dramatically enhanced our ability to succeed, as in many ways the result of our close working relationship with Tower allows us to enjoy the many benefits of having our own fab without actually having to invest the billions of dollars needed to own and run one. ..."

Yes, I guess it is true that this is my spin, but I think it is more in keeping with what we have been told about the relationship AP has with TJ to believe that both parties will be working collaboratively and with as much effort and urgency that they can manage to get this over the line. I see serious good will and commitment from TJ that at least matches the need AP has for rapid progress. I think they are going above and beyond the call of duty, and financial obligation here. No doubt others will call this naivety or purely wishful thinking on my behalf, but I'm prepared to put my money at risk on such a "feeling". And today I put a bit more there.

Nobody is likely to be happy with the slow progress and continual set backs AP has encountered, myself included. But I think one has to mentally place oneself in the board rooms of AP and TJ from time to time to imagine how things feel from the perspective of the parties involved. They have stated what they know in the best possible light. Of course the announcement is full of spin! But it is not likely to be dishonest.

Again, I have to ask why Vlad continues to declare a sentiment of "hold" for AKP in the face of his own ongoing rubbishing of the stock. If it is such a dog maybe its time to do the consistent thing and get out of the stock for a while.

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Yes, although I'm naturally disappointed in Fred's announcement, based on my discussions with Danny and others at AGMs over the years, any suggestion that they're not 'pulling out all the stops' is certainly not true. Those guys are working their butts off trying to get this thing to fulfill its promise, and I left the last meeting a bit concerned that the two senior engineers may be driving themselves too hard.
They will only win financially through their large shareholdings - which we will share. They've certainly got a far bigger stake on success - and loss in the event of failure - than anyone here!

Last edited by RVR: 05/07/18

AKP Price at posting: $15.51 Sentiment: Hold Disclosure: Held
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