Woa there guys!If you look at the Landline video (from the ABC...

Woa there guys!

If you look at the Landline video (from the ABC Landline program first aired in April and then again more recently), you will see that each billet produces about 2 square meters of inner core veneer. Looking at the trimming shed photos from PPY's recent AGM presentation, this 2 sqm is reduced to around 1 square meter of product in various shapes and sizes.

Reading the original PPY Prospectus will tell you that it is possible to make veneer from both the inner core and outer banana stem material. In fact, in my opinion, it is the outer core material that FibandCo are using so successfully in Martinique.

PPY are currently using the stems of Ladyfinger banana palms. These things are enormous. Again, check out the recent PPY presentation. They make at least 2 billets per banana stem.

The last announcement from the company in relation to production was that they were processing between 3,500 and 5000 billets per week. Let's see ... taking the minimum rate, and counting at least 12 weeks from the announcement, should give 42,000 square meters of usable product. At 5 Euros a sq m that is around AUD$286,000. From all the announcements I have seen relating to PPY production, I would expect to see this figure as revenue for the March quarter. . . What do you think my chances are?

1000 sqm was sent to Egypt in December and another 'tranche' (1000 sqm?) in February. I wonder where the other 40,000 sq meters of product is??

Like OzWire said, as far as can be seen no one has actually paid for any veneer. Revenue looks like it is all bank interest. Whatever the fine print, something certainly seems wrong somewhere!