eric noyrez, ceo interview, page-25

I actually thought this a blood out of stone interview.

Just don’t say any more than you absolutely have to.

Say it ambiguously.

Opening question. How are you? Answer: Very good thankyou. No eye contact. No rapport with interviewer.

Have we not been led to believe from previous statements (NC)that full production to be achieved by end of year? Presumably this information prompted the next question.
So full production by end of the year? Answer: Ramping up all year (well that’s one way of saying it) and full production by next quarter. So is this another time shift? Perhaps by the end of March 2014 we shall be advised (perhaps) that full production has been reached.

The only positive I took from this video was that all of the first stage 11k tonnes are sold and sold to previously defined customer requirements. But then these requirements must have been set in concrete for about the last three or four years. So where has the sales force been in the meantime trying to sell the next 11 k tonnes to justify stage 2? I suggest at this stage there is no market for it. I can’t imagine them waiting till the order book of the second stage 11k was full before they open up the plant but this might be the way they do it.

Thus for me I think it will be most of next year before we really see any share price improvement based on their production capabilities. Second I am aware that the CEO of a company carries a certain imprimatur of authority when he comments on company activities. Wow, not here. Next time get Nic to do the video. I am sure Eric is a top shelf operator in the company but geez don’t put him through that again.

Just wondering if OZL and LYC might get together somehow. Two great wealth destroyers. Together they would be one less wealth destroyer in the market for us share holders to concern ourselves with.

redgum