I gotra a we pdn story, its got some sweat and some very bitter taste. I was at this time going out wth this wonderful woman have had an acrimonious and costly divorce with my kids mother. My new partners father, an accountant, had aquired 1.4 mill pdn shares. He believed in the story. I was financially struggling. And after watching the shares in the NZ Herald hit the top 20 rises time and time rising from nothing to i think $ 1.80 cents i made enquiries of my partners father. He sold me the story but i had no spare money. I did have a good friend who owned a finance company. I approached him, he said "what security can you give me". I responded "my house theres $100k equity left". He quite properly said "no" i could never enforce the debt. He said he'd buy them , we'd go halves and he'd feed me to the fishes if it went wrong. I agreed. Next thing I get a call, he'd spent $100k NZ but the SP had risen and hit the $4.00 range by then. The price rose quckly. I recieved a call from him while boarding a plane and couldnt take the call. The SP was $9.70 or there about and he wanted to sell. With no responce from me he sold that day and after expences and exchange rate we were $180k up. I did not recieve my half but he wrote me a cheque for $30k NZ and it became my seed money for my new start.
Mean time my parners father whos share took him to a paper equity of well over $10 mill and on some days were the SP increase was in the $1.00/share region had said things like "who needs lotto" had his target price at $10.00 before he would part with one share. Well the inevitable happened and as quickly as the SP rose it dumped. From memory down to $1.00 or so. He was shattered. Then came the slow torturous rise slowly slowly they climbed to $5.00 ish and he could save face but again didnt sell. Then came Fucushima, it was game over and we all know recent events.
But Fucushima is the final event that pushed the global movement for reduction in CO2 emmissions away frommthe then obvious solution , Nuclear Power. The previous two big meltdowns , Long Island and Chenobyl had been disastrous but there causes were considered part of a learning curve and by the time of Fukushima the belief was Nuclear Stations were safe. Well that changed and the combination of decommissioning costs of by then end of life stations globally and the unpredictable events that destroyed the back up cooling systems at Fucushima the move to sustainable/recyclable energy and importantly ESS (batteries storage) was assured at least for the medium term. There has of course been energy storage like dambed water for a centuries but climatic change and costs might start to impact on damb efficiency in the future. Othere storage modes will also have there day but for now the time is right for VRFB.
TNG Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
