re: Ann: MD report for General Meeting 16 Mar...
You'd think, Plough, that if particle board could be made from banana it would have already been done by now or does PPY have a process that no-one knows about? They don't appear to be able to make paper (as per the details in the prospectus). They have taken what, nearly three years (I think that's when they set the NQ factory up)to make 2,000sqm of veneer which sells for virtualy no more than higher yielding FSC veneers. Board manufacture from banana seems to also have taken a big back seat. Whatever happened to the fire proof, water proof "banana boat" material that was put on their web site and shown allegedly at the Monaco Boat Show a couple of years ago? Unless PPY can show in the next quarter volumes of at least 150,000sqm which would be required to break even based on their cash burn and $5.00sqm selling price they might want to forget the whole thing and focus on AAMC. I had a read of this part of their web site and it looks like contracting out engineering and other technical services may indeed be needed to keep the dream alive.
PPY Price at posting:
11.5¢ Sentiment: Sell Disclosure: Not Held
