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41.3¢ valmec limited

20 million in new contracts, page-58

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spider5

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398

24/11/20

14:01

Post #: 49102388
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Originally posted by Gunnu: ↑

There is absolutely no logic to Velo65 comments. Edshann, Spider and Pentagon have all worked it out. The litigation result can only be positive given they have written it off, so not sure how Velo sees this as a huge risk. Any Company that makes losses has exposure but these guys are forecasting solid results, so again no logic to Velo’s concerns. WIP is WIP mate and when it’s audited under the new Accounting Standards has to be certain of recovery, so again lost with the logic of being a risk, rather this comes with growing order books.
With only 5 illogical posts, I would suggest Velo is either a disgruntled ex-employee or competitor. Let’s see if he raises those concerns at the AGM, I’ll be watching from Sydney.

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Had to use your post Gunnu as my reply would not post on Velo's for some reason despite several attempts so please excuse. Hey Velo! please read the last 2 paragraphs of the Valmec update dated 16th July 2020.- states clearly the debt is completely written off and is not part of their current contract asset amount nor has it been surreptitiously accounted for elsewhere.

VMX Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
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