To state that the board prefer to under promise and over deliver is extremely hopeful and quite frankly naive. All evidence for the past 15 years is to the contrary.
If lowering your forecast from 40 to 27M for 2018/19 and lowering guidance for this year from 21-23M to 15-17M is under promising I’m glad they didn’t over promise.
Phoslock is doing well and has a bright future but let’s not kid ourselves that the company is under promising. They have an extremely poor track record in this area. (I’m not going to delve into past quotes but it is now more than a decade since PHK announced that it would make a maiden profit and would be cash positive in the future) I’m just glad that the market now has an extremely low expectation of our board making its targets. Imagine what would happen to BHP or Westfarmers share price if they reduced their forecast by more than 30%. PHK shareholders, especially long term share holders, are numb to this sort of under delivery, and thankfully, were expecting it. A mere 4.65% drop on such news is unheard of and I am extremely grateful.
The market is still holding out for better news to come and have apparently shrugged off yet another missed target and a drastically reduced future target. Like me, the market is still holding its collective breath on this stock and know/hope that the future is enormous. One day they will come through. I'm almost sure of it.
(20min delay)