When I go through EM1's financial reports my impression is that we've got a pack for a deck of cards that is missing a couple dozen from the set.
There's a lot of extrapolation needed to come to conclusions that feels almost by design as technically they've done the bare minimum to be compliant with ASX and ASIC requirements. Which as anyone knows, the gaps there allow for space for an entire portfolio of art to be drawn.
I could probably take a full deep dive on these for hours and could write a thesis focused on this company alone, but I don't get paid to do that so I ain't.
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