Hi Silverlady I went to the AGM and I have a very different perspective.You could not be further off the mark in your interpretation.
I left with a huge feeling of excitement and enthusiasm about this company and its prospects.
It's very clear that they are focused on earning the most amount of money they can from this technology and have a clear path towards it.There is more money to be made in making veneers than paper , so that is what they are doing.
The feedback from the Monaco Yacht show was outstanding.Believe me there is huge demand for all of these products.PPY's only issue is being able to supply everyone.
All of the issues relating to the manufacturing plant have been ironed out and the plant is running continuously.
Former COO Grant Pigot spoke at the AGM and he is doing some consulting work for the company still.
Mario Cassin from 3W Toit Bois was there as well as 3 of his colleagues from overseas who were all in the flooring and veneer industries.
There were heaps of sample products there.Some of the fiberboard and plenty of different types and shades of veneer.
I spoke to Mario about the video on the website and he said he knew about the problem and he's looking to get it fixed.
There is a still shot of the video in the presentation.They made a small "boat" out of banana fiberboard , put something like petrol on it , then set it alight.It burned for 20 mins before the flame died , and aside from some minor charring it was otherwise intact.It is a very impressive video demonstrating the unique qualities of this product.
They are working with Jaguar as was noted on the website.
As I noted before the only limit at the moment is the fact that they only have one plant going.This technology is now proven - the plant works it is producing multiple products that are in demand.
I would expect a big year for this company.
PPY Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
