I bought this stock so as to be a part of the plastic solution. In the early days all looked good until the directors had to progress towards production. The announcements regarding funds,borrowings etc have become looser and looser indicating that the directors are panicking. At todays oil price I do not believe that production is viable. 70 million ltrs a year,even at a 10c profit margin is only $7mil, how can debt be serviced with this ? The price per tonne to deliver plastic to the plants could be increased to reflect economic outcomes but we may be fixed price contracted. In my opinion the directors are not up to the task,hell, they can't even answer the phone these days. Unfortunately we may all have a tax deduction come june 30th unless of course there is a little truth in their announcements. So come on guys ,put out an announcement, progress on the Amsterdam plant ,commissioning , or at least come clean. This will be a test of ASICS credibility. Fingers crossed for success, but cramp is setting in
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I bought this stock so as to be a part of the plastic solution....
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