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PET - Phoslock Environmental Technologies

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PET - I also like it for the 2020 CY comp. This environmental remediation company has huge potential if it can successfully market itself outside China. The opportunities in China are huge also and being a local manufacturer will help garner more business in China.
 
Top choice for 2020 tipping comp.

(Sorry, no chart, info nor announcements links) OK, maybe just one.
44cgyj39qdxxnk.pdf
Lake Dianchi – New Project Area

Contracts like the above will become more common. The above contract is a "smaller" contract compared to the ones announced back in July and gave PET its boom.

I have posted enough on this thread to confirm my belief in Phoslock. Pity I "average up" too much due to FOMO. When Florida announces new contracts, then things will take off. Europe contracts will be the dark horse. Things are quiet now because it's winter in the Northern Hemisphere. The only reason why China is acting faster is because their bureaucrats just do things when they have a big budget. Bureaucrats in other countries engage in a talk fest forever - eventually talking has to be backed up action. The only hiccup I can see, will Phoslock build a factory in US or can the factories in China keep up with demand? Yes, demand will escalate - if not 2020, definitely beyond that.
 
I'm probably overweight in this stock....well definitely overweight in PET

I think PET handled this weeks virus news extremely well as it has considerable interests in China, so on Monday the XAO dipped -1.4% and PET -3.4% created a new LL but with a positive close creating a nice pivot point and then gained ~8% for the rest of the week to finish in a nice strong position.

Some positives on the chart and looking forward to the next few weeks

Daily Chart below

 
Soothing sounds from China; also picked up a new prominent contract in Brasil.
 
I blame my broker's software for completely missing this rise today.
Westpac app.
It decides on occasion, to say that the password is wrong... when it does this, there's no fixing it without problems, problems like losing your current 'get a quote' list, which PET was in.
How annoying, sat on the sidelines today, have been waiting for a pet jump.
F.Rock
 
Some more ramblings and lines from me

I can see a EW structure being formed here. IF wave 4 is complete then we may see some positive action next week

 

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They also announced up to $30K for SPP at $0.50 for retail investors. I am expecting it to be oversubscribed. Directors purchased $3.0 million themselves. Pity I'm unemployed at the moment. Therefore I won't be taking part unless I find money somewhere??
 
Yes i did see the SPP but think the scale back will be huge as only 10 million new shares to be issued at 50c, so after going through the NST SPP I don't have high expectations on getting a good slice.
 
24 Jan. 2020 - First ASX Announcement about coronavirus.
Dona Ferentes said:
Soothing sounds from China.
Click to expand...
Sometimes , oh well. Was always hard ... "The silence, however, was deafening."

 
tinhat said:
Froth. Be careful.
Click to expand...
Can you please elaborate on that as I would think PET has a fairly good outlook for the medium to long term based on the environmental solution they sell as a product?
Their product reduces froth I thought...
Cheers.

F.Rock
 
i would have thought the froth was 12 months ago. Ignore that, and its just implementing its solutions on a case by case basis.

(That's the trouble with being on the "verge of making real inroads into the Chinese market", when they figure out you aren't)

 
Quaterly cash flow out today and to me it doesn't look to flash but the market pushed the SP up for some reason.....maybe the SPP closing has helped ?

Although I am pretty heavily invested here this announcment doesn't look to good, so will have to watch very closely, but willing to hold for now as SP has held up pretty good considering the SPP could have driven the price lower but I am sure the big boys are probably manipulating the SP a bit.

Minimal receipts for period, but still forecasting 50-70m for FY...is this realistic or wishful thinking????




 
Just another update on PET following the SPP @ $0.50 and their AGM

Bit of action yesterday had the SP hit resistance @ $0.625 again then retrace so this becomes an important level.

No real surprises in the AGM and people just speculating about a few projects in China. Still holding and hoping for a retrace back to the $0.80 level

ther
 
Oh Bugger this can't be good. Not feeling to confident about this as SP has been worrying me lately and I was thinking about a staged exit.....but I might be trapped if this goes south.

 
No real surprise, so better to be on the front foot and declare reduced expectations

Accordingly, we are reducing our short-term revenue expectations for the remaining six months of this year. We are now forecasting a revenue range of $30 – 40 million for full year 2020. While this is a substantial reduction over our previous forecast range, if achieved it would result in a sales increase of approximately 40%, at the midpoint, over last year.​

 
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