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1.47%

33.5¢ matrix composites & engineering limited

Ann: Ceasing to be a substantial holder, page-5

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fs0010

554 Posts.

22

09/03/21

17:03

Post #: 51635589
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Originally posted by Polar1: ↑

Cash at 31 Dec 2019 was $20.1m. At 31 Dec 2020 it was $11.5m. That's how I calculated burn of $8.6m. I accept E&P on the increase but you can't escape this is a business that heavily invested in capacity in a location that does not have proximity to either customers or raw materials and has now sold off its property and plant assets to survive. Working capital required for this business is significant and I suspect banks would find it hard to fund given recent financial performance. NWC is ~$6.8m and will increase before there is any cash returned to the business. Also just noticed they have stopped reporting cash adjusted for customer deposits which they previously did. So of the $11.5m cash they report, only $10.3m belongs to them. I still consider this will need a cap raise to fund wc and kick start any improved performance.

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The company paid 4.7M to close out all trade finance debt during this period. To classify debt repayments as 'cash burn' is far-fetched. It seems the $7M trade finance facility is still available to be drawn upon to fund working capital for large orders.

MCE Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 33.5¢		Change -0.005(1.47%)		Mkt cap ! $74.97M

Open	High	Low	Value	Volume
34.0¢	34.0¢	33.5¢	$19.85K	58.45K

Buyers (Bids)

No.	Vol.	Price($)
3	34477	33.5¢

Sellers (Offers)

Price($)	Vol.	No.
34.0¢	50000	1

View Market Depth

No.	Vol.	Price($)
3	34477	0.335
2	12560	0.330
2	8700	0.325
3	19950	0.320
2	5300	0.310

Price($)	Vol.	No.
0.340	50000	1
0.350	61468	3
0.360	48197	3
0.365	30486	3
0.385	20000	1

Last trade - 15.46pm 15/10/2024 (20 minute delay)

MCE (ASX) Chart

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