Originally Posted by
Bluebell
Yes, this is concerning news and begs the question if this is the commencement of their withdrawal.
I've been away from the forum for a number of weeks and have gone back to the posts after the AGM to refresh. Sideshow Bob and Rocky45 summed up PAZ situation very well I believe. We have heard much about the impacts of Covid in stalling progress....time that excuse stopped being used. We heard over staff situations now understaffed - what is it that makes it so hard to retain staff at this company? The new capacity projects seem to be a disaster with new ones bolting ahead before others are complete and making money, that smarts of overly ambitious intentions, poor capex expenditure and projects management.
They are prepared to sell further land and buildings if the conditions are better, so how about further investment from CIBUS, surely they wouldn't want to stall progress but perhaps they've completely lost their appetite given poor use of funds to date?
It was reported that the Tawhiri site couldn't be completed due to performance on the first half of the year- I would suggest cash constraints must have been tight well before this.
I would have thought that the new driers could have been commissioned in stages at the new site, first one (or 2) go in, start generating revenue. Seems the set up they've purchased needed to have the 3rd drier in place before the go button on the other
2 could be pressed. I get the sense the drier damaged in transit is serving as a convenient excuse for further delays.
I don't like the contradiction in the reports, don't feel like we are getting a straight story
Lost confidence in PAZ, like others will be parking these shares in the bottom drawer and keeping fingers crossed for a longer term recovery
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