More breadcrumbs on the operating situation of Papyrus Egpt. The...

More breadcrumbs on the operating situation of Papyrus Egpt. The Statutory Accounts released today say:

Expansion of the processing capacity in Sohag
In line with our commitment to expand our processing capacity at our demonstration plant in Sohag, we completed upgrades, aimed at increasing the plant's processing capacity to 6 tonnes per hour. The upgrades targeted the increased supply required for our moulding operations in Sharqiah Egypt and to prepare for the provision of fibre to the MP facility once operating.
Production sales from our facility in Sharqiah, Egypt
Our second plant in Sharqiah Egypt, that produces banana fibre moulded food packaging products has achieved a successful production of high-quality egg trays, which are in demand and sold locally.

The other clue is the revenue figure buried in the equity accounted (but NOT controlled despite being 69% owned!!) Papyrus Egypthaving 2023 revenue of just $76,000. So despite claims of dozens of employees beavering away producing egg trays, it is pretty clear that Sohag and Sharqiah produce virtually nothing.....Sharqiah having produced "a" production of egg trays does not appear to have "ongoing production" - or else surely they would tell us. (The MP facility above is the NEW plant that the Egyptian Ministry has bought that still sits on a boat somewhere).

It's been a long journey since the original patent in 2007 to get precisely where?? PPY or partners have still never managed to sell ANY banana trunk fibre output.