“Must remember there’s no debt and they have $80m in investments and cash”
I assume you’re quoting the quarterly which stated $82 of working capital - quite different to “investments and cash”. Below you can see the breakdown, a lot of it inventory which they cant readily draw upon.
Their main “investment” is a stake in BRN.ax which has dropped 40% since 31 dec so that figure requires revision.
As you can see the company has leaked $45m in cash in the last half after backing out the capital raise done last year. $33m left in the bank at 31 dec is hardly comforting considering nifty is leaking around $25m per quarter and has again had interruptions this quarter.
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