Not sure if you are looking at it the right way, but for a company with MC of circa $20M to have facilities of over $45M is pretty impressive and must lead to strong bank support as its grown year on year.
They also haven't capital raise year on year so they must be managing ok with the growth they have had and the John Holland matter. I'm pretty sure if public companies don't meet their banking covenants, they are required to notify the ASX, which has never been the case with this company.
Once the John Holland matter FINALLY settles, these guys will bank some serious $$$ given they had written off the whole amount previously, so every single dollar they receive will be PROFIT!!
I'm just excited that the SP is moving in the right direction and they winning work!
VMX Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
