According to the company, there is operational readiness to start up the plant, and additional installations required by Tukes (Finnish Safety and Chemicals Agency) for emergency situations are currently being carried out. I have no reason to doubt this information. Perhaps my optimism stems from the fact that I only jumped in as an investor at the beginning of this year, when I was searching the “trash bin” of the Helsinki Stock Exchange for more small potential turnaround companies.
At the same time, I am slightly concerned about this schedule, as it is not entirely in Lamor’s hands; the final word rests with the authority. Hopefully, the company has taken this external uncertainty into account in its announced schedule. The timing is also relevant in the sense that agencies like Tukes are practically closed in July, with the exception of emergency duty.
The company’s situation is binary in the sense that the end-of-June schedule and its adherence will largely define the situation from which the company’s balance sheet will need to be rescued in the fall. If the ramp-up is delayed again, the company will be at the mercy of financiers, and a large rights issue will have to be organized while the share price is at rock bottom. This would result in massive dilution.
Edit: As an addition, it is not uncommon for significant delays to occur when scaling new technology to industrial scale for the first time. I also remain slightly skeptical about the reliable and profitable functionality of the technology (continuous process, yield, input quality). This can only truly be determined if and when the permit for the ramp-up is granted.