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11.5¢ valence industries limited

Disagree Fish, refurbishment went pretty much to plan but the...

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m0ngy

10,075 Posts.

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02/11/15

09:04

Post #: 16305189
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Originally posted by Fish3 ↑

Will be interesting to see how the share price tracks today. My summary of the announcement was that the refurbished process was a complete stuff up, production will be almost zero until mid next year, the loan facility is not looking at all certain because of all of this, the move to advanced processing has been shelved, and that without the loan facility being extended vxl will not have enough funds to survive. It isn't clear if the first phase of funding is certain, I.e. $20 mill, but even if so, that was at such high interest that there won't be any joy unless the second phase is triggered with its much lower interest rates. Given the production stuff up, and the few years that they have now had to get that right, it looks like we have been somewhat mislead by previous vxl announcements and timelines. All pivots on the funding arrangements now, hopefully the lenders have more confidence now CD has been moved on.

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Disagree Fish, refurbishment went pretty much to plan but the COP was too high and the market for the output subdued. Plus it is a hard market to break into. FDR found the same thing. So they had to re engineer the production to produce a more saleable product. Then the money problems began.

VXL Price at posting: 15.5¢ Sentiment: Sell Disclosure: Not Held
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