Questions for EML

I can possibly answer most;

1) Sorry we can't comment on current negotiations, but if you refer to the latest investor update you can see our plan for the project!
2) In a recent interview with Tom, he made it very clear that before PFS they did due diligence with a whole bunch of companies. Unfortunately most of them had something positive however also a "fatal flaw" of some type. Also due to covid, traveling to inspect or sign anything is impossible. It was mentioned there were a couple of Aus based companies they did DD on and will look at those again.
3) Sorry we are unable to provide on-going financial updates unless it's announced to the entire market.
4) Again, we are unable to provide specifics on how certain contracts are performing however of course we are always looking to expand and grow these partnerships!

Thanks for your time.

100% this.

People need to get it in their head that they were provided with a trading update like 6 weeks ago. What do you expect? Do you want Tom to make a phone call to you daily? What time of day suits you best for Tom to give you your daily phone update?

Lots of questions simply because the SP is coming off.

The SP weakness is explained in my view simply by the following graph from the recent preso and outlook commentary

- see those huge spikes in GDV of very high margin G+I revenue. They are Nov/Dec from the last two FY. Seasonal gift cards at very high gross margin. Approx 4.8m of every $100m of GDV from mall cards is gross profit or $450bps. This is like 4x the margin that is achieved from the GPR programs.

Another way of looking at it for every $100m GDV that is processed in mall cards it takes $450m GDV from GPR programs to achieve the same/similar gross profit.

Now - Do you expect the same spikes in mall card GDV this Nov/Dec? It's only a few months away now and many parts of EU and US are contemplating further shutdowns. If that happens it cripples EML's highest margin product in the months when that product normally has most of its volume processed.

That's the reason for SP weakness.