In the Chairman's AGM report at the end of November 2017 the following information was released to the market.
Here are some extracts from their own report.
"... we expect to reach full commercial production by end of year. "
"... Papyrus Egypt will sell banana veneer door skins to the furniture and construction industries from the beginning of next year. "
" .... The rate of veneer production is 125 square metres per day during the next 3-4 month phase of development"
" .... Sales of laminated banana veneer door skins are anticipated to commence in January 2018. "
It is now end March .. so what has happened ???
Nothing but silence.
The statement to ASX now reveals " . Based on information PPY has to date, which has been released to the market, the JV factory is expected to move to full production during 2018 fiscal year. "
Whaaaaattt ??!!
What does "move to full production" actually mean, anyway. ??
More creative wording to avoid accountability, and responsibility I suspect.
What PPY released to the market was very different in November 2017 when they were trying to pacify cranky shareholders.
And PPY claim they are not misleading the market !!!
Bah, humbug
PPY Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
