AGM's hit my Watchlist each year and this stock comes up as it's in the battery materials space. Although you could be confused at it is designated in healthcare? Could explain the confusion among its execs on how to deliver performance. In the past 2 years it has gone from 6c to 3c to 2c (M Cap AUD$150M to $75M to $50M). Destroying 2/3rds of the value should make the Rem' Committee's discussion a very short one. If this is destruction of 2/3rd of the value of the business is rewarded then we'd expect a share price below 1c next year if it is still a going concern.
A small Aussie Player on life support, with decent technology, needs to focus on where in the complex battery supply chain they wish to play and be dogged not jump dance partners like a teenager at a disco. China (CATL etc) are 80% of the market and if not partnering with a player who taps into that industry then you need to be in the right queue, stay focused and not dance from queue to queue. The result is cash burn and you are always at the back of the queue when the Board make a going concern call.
May look in again next year. There are many graveyards of such businesses in Lat Am, South Africa and across APac. Many born from a bright idea in a Uni Lab. ASX Healthcare that s a new idea to attract the right attention and funding? Similar Aussie businesses have had better fortune on Toronto Exchange
ADO Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
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