Ann: Half Yearly Report and Accounts , page-6

Hmmm?. suspicions confirmed on PPY!

PPYinterest speculated in this thread that there should be 3,500 to 5,000 billets per week capacity leading to 42,000 square metres of usable product over 12 weeks (i.e in 2011 to date) ?assuming that one billet translated to one square metre of material

(My comment: even at that rate - its a sad and sorry rate of production when you think about all the production steps necessary to get a banana trunk harvested, loaded on the trailer, transported to the factory, loaded to the cutting machine, cut, transferred to the drying machine, dried, inspected, trimmed and packed to get one bit of veneer worth a measly 5 Euro!)

The Quarterly Report on 28 January said: ?**All available veneer** produced is currently sold to an Egyptian purchaser to satisfy an initial order for 10,000 square metres of trimmed veneer equivalent at a sale price of 5 Euro?s per square metre?.

Half Yearly Report (late February): "**All available veneer** produced is currently sold to an Egyptian purchaser to satisfy an initial order of 10,000 sq m of trimmed veneer at 5 Euro per square metre. The order was received in Q2 and the first batch (1000m2) was dispatched in Q2?.

The latest announcement (mid March - near the end of Q3) says: ?The catalogue of products follows a purchase order placed with Papyrus Australia for the supply of 10,000m2 of veneer to the Egyptian company. Papyrus has currently shipped 2000m2 to the company?.

SO?? this confirms that three months+ of ?all available production? seems to be around 2000 m2 of veneer in TOTAL. Like I suspected all along, the machine cannot produce anywhere near the claimed production rate. And remember, the claimed 2500-5000 per week rate is little more than 10% of the projected rate in the prospectus.

A capital raising (sub 10c) or a miracle required in the next couple of months.