This announcement is counter-productive for the company IMO. It raises more questions than it answers and once again leaves POH shareholders scratching their heads and the market assigning negativity as a result.
I think it is being viewed negatively for the following reasons:
"The study compared the benefit of TPM® at doses of 5 to 40 mg/kg with that of increasing doses of Vitamin E (dl-alpha-tocopherol acetate) up to 160mg/kg"
- There is no context around any of these values. How do TPM and Vit E compare from a cost perspective? For instance it's good and well to say that 40mg/kg of TPM outperformed all doses of Vit E (up to 160mg/kg) but where is the ROI context? Does 40mg/kg of TPM cost twice, three times as much as the VIT E and only result in a 3% benefit? We don't know. We are hoping that it is very commercially attractive but we simply don't know and I certainly wouldn't be purchasing stock with any confidence.
"In the first phase (0-14 days), TPM® treatment resulted in a statistically significant, linear dose dependent improvement in feed efficiency. The FCR with 40mg/kg of TPM® was more than three percent (>3%) better than the best result achieved with any dose of Vitamin E."
- No context at all around what 3% means. Is this a good result and if so how? How does it relate to commercial benefit to farmers and industry, give us some context. To the lay person 3% seems low and once factoring in the cost of TPM for this application (which we also have no idea on) is this even worth the investment? We simply don't have any information in which to draw conclusions.
"The significant difference observed in the first phase of the trial was not seen in the second phase (days 15 – 34 of treatment). Unforeseen health issues in the pigs during this second phase resulted in significant suppression of performance across the board for all treatment groups, compromising FCR assessments."
- Reads like yet another POH 'lets sweep this bit under the carpet' trick. Elaborate!
"Additional studies are planned for production animals throughout 2016, to assess the value of TPM® across the broader market segment.:
- The market doesn't have enough information to be confident that further shareholder money should be spent in this area.
Finally, many may be disappointed once again with the lack of detail and vague reporting which many would have hoped the new management team would've stamp out. The company continues to lack transparency which new management apparently were going to improve upon. Call it confidentiality, call it holding your cards close to your chest.... the market doesn't believe..... The OxyC is still a great punt at under 1c (hence my BUY sentiment), but they'd want to get the reporting right or it will be one BIG disaster.
Mafew
DYOR IMO
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- Ann: Positive Results for Weaner Pig Feed Efficiency Trial
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