3Q18 Financials & Progress Update + Chart
Updated blog entries, see below.
Bromine price is up.
Production start soon: NatGas this month and Bromine 1Q19,
whereby Bromine plants shall be completed early 1Q19, governmental approval right thereafter and production until end of 1Q19.
Company has $148.27M or $3.15/sh end of 2018 Net-Net-Working Capital (NNWC) positive balance sheet.
Production outlook, non-GAAP:
- 2019 EPS $0.56 and
- 2020 $0.60 w/ Chemicals.
Fibo holding bounce and break $1.07 24% fibo, 2nd time a charm on progress?
Overview and Events https://finesand.wordpress.com/2018/07/10/gulf-resources-gure-a-quick-outline/
Financials and Projection https://finesand.wordpress.com/2018/08/09/gulf-resources-gure-value/
Events marked in chart are as follows:
On 2017-07-10 company disclosed Temporary Suspension of Production at its First Natural Gas Well in Sichuan Province (DCHC), the natural gas did not meet the expected quality standards. The basic issue is that the water content in the natural gas is too high.
On 2017-09-07 company disclosed that on 2017-09-01 bromine production has been suspended (SCHC) for rectification and improvement in order to meet the new environmental rules in China.
On 2017-11-30 company disclosed that on 2017-11-24 a notification has been received to relocate the chemical factories of its SYCI subsidiary to a newly designated chemical industrial park as part of the rectification and improvement in order to meet the new safety production and environmental rules in China.
On 2018-07-05 company company disclosed another delay for chemical and bromine production, see below.
On 2018-08-27 a flooding took place in the whole region, see article 1 and article-2.
On 2018-09-26 company finally disclosed the impact of the flood repair, since a regional flood destroyed significant infrastructure – also that 3 of 10 Bromine plants has been shutdown!