1 week ago
10
Apollo Global [APL 0.00 unch] [link] replied to a PSE query to say that it is (1) “eagerly awaiting the arrival of necessary parts”, (2) retrieving the last two lost anchors, (3) finalizing inventory counts of supplies, (4) preparing to mobilize the boat to the site for mining season. In true APL fashion, the progress on the anchor retrieval has been hampered by rough seas, and its “divers must wait for calmer waters to ensure safe recovery.”
MB bottom-line: As of today, it has been 1,491 days since APL first said that its boat was “in position” and ready to begin offshore mining operations. It hasn’t done a single day of work on the core storyline, which is the offshore iron mining, but it sure has been grinding every possible side quest known to man. It was particularly hilarious to read that they’re “finalizing inventory and supply preparations to facilitate a smooth transition into the upcoming mining season”. They’ve been doing nothing for four years, and they’re still counting inventory! And don’t get me started on the “waiting for parts” game. These are tired excuses. APL’s stock is up 20% year-to-date, but it’s just barely up off its all-time low, and it's down about 30% from the high it reached in late January. I look forward to the wonderful stories APL will tell on their April update. Will the parts finally arrive? Will those divers still be waiting? Will the waters finally calm down to allow for something to happen. TUNE IN NEXT MONTH!
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