Morgans clients may be among them. Morgans reduced their...

Morgans clients may be among them. Morgans reduced their recommendation to hold with a target of 20.5c. I do not think they have called it correctly. Reasons given were tight funding and challenging conditions for the engineering division and reduced margins for the energy division. While it is easy to read these problems within the report Del seemed to have given reasonable explanation for them. The funding problem will only occur if Planum cannot cough up when the time comes. Too much potential here to see it struggle - niche industry addressing critical problems and should be assisted reliably by Govt grants if necessary - I would be happy to see repayable Govt loans if needed but I don't think it will get to that.