Fellas, What we got here today essentially is a revenues warning! Not only did it take much longer to produce the first batch of product, but also the problems obviously are much more severe and persistent than had been anticipated. Why else should they decide to deliver only 56.7% of what had been planned and promised? Yet again they fail to meet their own targets by a wide margin.
What was hoped to be normal initial ramp up problems now turns out to be a longer term problem severely hampering output of the plant.
Obviously the company does NOT take any money to the bank (no matter how often this nonsense keeps being repeated here) since this kind of revenues doesn't cover the costs of production.
What worries me most though is the fact that they do not provide any explanation as to what the problem exactly is and give no guidance as to when we can expect this problem to be fixed!
And BTW, they were talking about seveal interested parties months ago, this is no news at all and it had been discussed here on this board already, weeks ago. The wording regarding the MCU personnel visit shifted from "July" to "end of July".
Once again I have to be the one to tell it like it is: This is a very disappointing piece of news!
CNQ Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
