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31 Oct 2013 09:21
For Immediate Release | 31 October 2013 |
Graphene NanoChem plc
("Graphene NanoChem" or the "Group")
Trading Update
Graphene NanoChem (AIM: GRPH), the performance nanochemicals and advanced materials company, announces the following trading update:
· The expansion project at the Group's Senawang is progressing according to schedule
· Sales of the Group's second generation biofuels remain in line with expectations, with toll-refining operations in place while the Senawang plant is shut down.
· The Graphene expansion project is also on track
· The Directors remain confident in the prospects of the Group's PlatDrill graphene-enhanced drilling fluid. Discussions continue with the end user regarding the determination and selection of well site by Scomi Group's end-customers. The timing of the shipment of PlatDrill will have a material impact on the Group's financial results for the year ended 31 December 2013 and the Director's remain cautiously optimistic that the Group will be able to recognise revenue in relation to PlatDrill this year.
· Operations at the Lahad Datu palm oil refinery are progressing in line with operations.
For further information:
Graphene NanoChem | Tel: +603 2282 3080 |
Jespal Deol, Chief Executive Officer | |
Panmure Gordon (NOMAD and Broker) | |
Callum Stewart / Atholl Tweedie | Tel: +44 (0) 20 7886 2500 |
Tom Nicholson | Tel: +65 8614 7553 |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Edwards / Fiona Henson / Helen Greenwood |
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