It's worse than that Ozwire. The current product doesn't look anywhere as nice as the product displayed a few years ago. How green is it? We don't know what the veneer is mounted too. The veneer only represents a fraction of the total material. To work as flooring it needs to be at least 6mm thick and have a density of at least 700kg/tonne. $5.00 against say FSC grade Beech as $3.00 and bucket loads of volume compared to the PPY output. The selling price must be FOB Egypt it just doesn't add up. You mention the prospectus in your blog. I can't recall seeing veneer in the prospectus. It was all about paper. At current output it will take (extrapolating PPY's announcements) all year to fulfill 10,000sqm or $50,000 worth of revenue. Boy I hope I am wrong!!!!
Add to My Watchlist
What is My Watchlist?
