Ann: Half Year Results Presentation - 30 June 2024, page-4

I just watched the presentation and meeting. They definitely had stumbles in H1. Some were on the Company and some were external forces IMO.

To their credit they have owned them and changed tack to reduce cash burn by shelving or aborting lower priority activities. They also managed the testing fault on Sentia pretty well by going on the front foot and proactively remediating and replacing strip stocks for customers.

I don't think the SP will go anywhere until they show uptick in H2 on sales and /or approval with US EPA for their metals detection product. If either of those occur there could be some interest.

That said, they seemed confident that they can tighten their belt in the meantime to avoid going to the market for capital top-up.
This is still a multi-application platform with significant advantages to laboratory testing and the Sentia feedback from customers shows it works in that way.
Long term thesis remains intact for me.

I will probably hold as a speculative and watch for green shoots before further accumulation.
If the SP is discounted under 10c then I may top up.