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Vitreous Glass Inc V.VCI

Alternate Symbol(s):  VCIGF

Vitreous Glass Inc. is a Canada-based company, which is engaged in recycling glass. The Company cleans, crushes and sells waste glass to the fiberglass manufacturing industry in the province of Alberta. The Company creates GlasSand cullet for use in fiberglass insulation manufacturing. It operates a waste glass processing plant at Airdrie, Alberta. The plant gathers post-consumer waste glass from Alberta and elsewhere in western Canada, crushes it, removes contaminants, and sells the final product to three manufacturers of fiberglass building insulation for use as a raw material in their production facilities in Alberta. All production from the Company’s Alberta glass plant is sold to two large customers and one smaller one in the fiberglass insulation manufacturing industry in Alberta, which is heavily dependent on the level of housing starts in Western Canada and the Northwest United States. It ships products to its customers based on the customer’s day-to-day consumption estimates.


TSXV:VCI - Post by User

Comment by EverydayCapon Oct 12, 2022 4:16pm
269 Views
Post# 35020596

RE:Wake up!

RE:Wake up!Well, we are down about 10% from my september 29th post. I am here to say that there is another 10-20% of imminent downside. The lack of liquidity and inability to meaningfully short this means there is a lag in stock price vs. fundamentals.

Fiscal year end was at the end of September, and results should be out by mid October. Housing in Alberta continues to deteriorate, and fiberglass demand is slowing accordingly. Will Pat provide guidance for once in his MD&A?

Anyone holding this for the dividend is about to watch the dividend get pared back in 2023. The shares will follow :)
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