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kingkev

27,649 Posts.

1320

18/06/20

12:58

Post #: 45298472
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Originally posted by leaxie: ↑

I just called the Investor Relationship of PET, asking him about the reasons behind the sudden downgrade.
The answer I got was:
- The direct trigger of this announcement was that they received a document from the local government of KunMing City (YunNan Province) last Friday, notifying them due to the possible 2nd wave of the Covid-19, the governments' priorities have changed. As a result, the importance of Shilongba project has been downgraded from "urgent" to "general", and hence, will be delayed.
- PE was forecasting $18M for this project, and now the timing and monetary size remain uncertain.
- He also talked about the delay in the trial in Dianchi (largest lake in YunNan) as another factor to the downgrade

I think this information may be worth sharing with all the shareholders.

Good luck to all

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Thanks for sharing

PET Price at posting: 37.0¢ Sentiment: Buy Disclosure: Held
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