Great point if this TH is for a new customer who want product...

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Henry Walton

416 Posts.

731

14/01/19

16:39

Post #: 37109885
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Originally posted by luanboo ↑

Thanks Henry for the great find and inform us immediately.

The ship is unnamed (which is unusual). Might be port/berth is getting tight and they simply rushing to book the port/berth while awaiting for ship booking to be finalised. I see 2 possibilities

1. In my own estimation, Burwill only have upto mid Feb 2019 (and it will be Chinese New Year period starting early-end Feb) before they breach the offtake agreement and they clearly do not want to lose their hard-earned partnership and great quality supply, even though their converter plants might be delayed and might not urgently need our products. If this is the case, it shows Burwill probably struggling a bit with their JV plants ignition/commissioning, and probably unwillingly giving up their exclusive first right of refusal to just stay in the game (pays penalty for late acceptance and avoid breaching the agreement). Good chance for AMAL to take on the 2nd/3rd offtaker and start derisking our sole offtaker risk.

2.It could also be possible that the end Jan shipment is for the new offtaker. AMAL could be rushing to block the port/berth so that they could get the 1st shipment to the offtaker before signing/announcing the new offtake, for maximum impact of the announcement. They could be ready to announce today, or there could still be a slight extension to dot the Is and cross the Ts.

Whatever it is, very happy that shipment (ie revenue) is starting to move again. Nothing else matter for long term fundamental investors, as long as the company continue to produce good quality products and continue to produce revenue/profits/cashflow. I can wait. They will announce when they are ready to.

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Great point if this TH is for a new customer who want product ASAP got to book that space out quickly, can't be waiting on whatever final lawyer work is holding up the renouncement.

A40 Price at posting: 25.5¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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Great point if this TH is for a new customer who want product...

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