I have been quite interested in this stock and have watched it for a few years. Recently, I have been getting very interested given $ SP. Although I don't agree with the managements performance which if you follow Warren Buffets philosophy is a red flag. However, I am a believer that this industry will prosper going forward and that the assets in motion by this company do put them in a leading position.
I have looked through the recent financials and my main takeaways are this.
- At the reporting date, the Group had capital commitments of $39.9 million (bottom page 63) - liqudity = $50mil loan facility, $20mil equity raise (hopefully SPP is fully subscribed), $3mil cash, and $1.2mil from cyber claw back (have I missed anything)? - So in theory they should get the glass house complete in the next 6months. - leaving approx 30mil of debt/cash to get this thing profitable
Is there a fair summary? Obviously I think people here would know a lot more about this than I, thus after some input.
CAN Price at posting:
28.5¢ Sentiment: Hold Disclosure: Not Held
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