What’s new in the newsletter that was supposed to provide details of the strategic review!
QUOTE
“ongoing cost management initiative …. primarily due to the move towards consistent steady-state production…. ‘ WOW, must take our hats off to such great skill in showing yes, the sacking of a senior manager and resignation of production staff is so beneficial to CMQ.
Key appointments – note the unnamed company for which 1 senior manager QUOTE managed a 180-person site and gained experience! Is that Pan Pharmaceutical practices and manufacturing ethics coming to roost? Funny how the previous employer Foster Brewing was named but not the ‘largest pharmaceutical manufacturer’.
Proven Commercial Production?
At last we know that the yet-to-be-resolved filtration problem is not the only manufacturing problem. QUOTE: Our plant was suspended recently to implement a number of design changes AIMED at improving safety, efficiency and maintainability of the plant. Yes, the review by independent international expert had validated our changes.
I am sure all shareholders are as pleased as Mr Williams after experiencing the pleasure of Mr Melrose’s commissioned IER (probably the same people!) promising name-plate capacity. What a great way QUOTE “enable us to prove the products can be made on a commercial scale”. Have shareholders forgotten that for CMQ to be commercially viable, production was supposed to be scaled up to 50tpa & then 200tpa. Now we are asked to believe the less than nameplate capacity (20tpa) is proven commercial production, and changes to the hazardous and dangerous production process is safe not because it the plant is in full operation but because ‘as I write we are WELL ADVANCED in the PROCESS of bringing the plant up to full operation and our plan was validated by the IER' (just like the Mizuho requested IER).
Better late than never and smoother than Teflon.
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