You don't have to wait for the AGM now in order to be "Shown the money". Its in the 4C report just out: two grand!!!!!! With about 1,400 metres of veneer in stock. They don't say how many metres were sold to make $2,000 but lets say it was 1,400 metres. That puts the selling price at about $1.40 per metre.
The announcement also says that daily production is up 60%. They don't say from what base but lets say in the last quarter they produced 3,000 metres of veneer (stuff sold plus stock on hand). Well, thats 47 metres of veneer per day and 60% increase in production should see the next quarter production at least hmmm let me see now (I'm thinking) got it!!! 80 metres per day. Now at 250gsm (I read somewhere that was the weight of the material produced) that's er, um, 20kg of product per day and say they run 300 days per year that's (wait for it) 6 tonnes a year from a machine that the prospectus and other announcements state can do 20,000 tonnes. Next quarter report should see at least $6,000 of revenue based on the new productivity improvement. I'd be asking "GIVE ME BACK MY MONEY" at the next AGM But I can't coz I don't have anymore stock left.
PPY Price at posting:
20.0¢ Sentiment: None Disclosure: Not Held
