Ann: FY22 Results Commentary, page-6

I am very impressed with this report....

"The Company will continue to execute the vertical integration strategy patiently and meticulously."

It reads exactly like this. Diligent bedding down of the operations to steady state profit, cautious expansion, and building a strong moat. Much to like.

There are dozens of wanna-be ex-miners that try and bring up a new business or technology, and nearly all of them are capital raise happy and loss making. VYS is NETT profitable and raising-stingy. Quite a few millions of past tax losses to get through before franked dividends perhaps, but still.....

Should inch closer to double digits.