Big announcement today about the a product launch!
There are some very positive signs in the announcement.
Background: Papyrus has a patented process to turn banana trunks (a waste product) into high value paper and veneer products with a number of useful properites (fire retardant, water resistant, NATURAL and not least able to be produced with far far lower pollution and greeenhouse gas emmissions and at a lower cost than conventional pupl based paper). The first full scale production line has been installed in North Queensland and was ready to go except for a technical glitch in one of the (trunk) cutting blades. This delay caused some of the existing marketing agreements to be put in limbo whilst the probelms were sorted out with the blade engineers.
Current state of play:
3W Tout Bois a European based company are back on board, and will launch Papyrus's 'decorative veneer and fibreboard' (brand name Beleaf) at the Monaco Boat Show.
So Papyrus is now on the verge of success:
* Preliminary Annual Report discloses Papyrus made SALES for the first time in 2008/2009. Beleaf will add to the sales pipeline.
* Today's announcement claims "Papyrus has established considerable interest in other lucrative markets including printing and stationery, general packaging and food packaging". So lots of announcements to look forward to. And, ramped up production into HIGH VALUE markets.
* Todays announcement claims "the company continues to implement its engineering and production plan and reports that it has achieved batch production of its products and is now progressing towards continuous production". Very positive indication that the technical hurdles are under control.
Patience has been required by Papyrus holders but now it looks like exciting times ahead.....
PPY Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
