Ann: 1HFY23 Results Presentation, page-40

Don't confuse a major equity owner of the company with the most powerful operator in the management team. Will need more than just a new equity participant to change things here now...

The current Board have at least started the clean-up process, the problem is cleaning up a company and keeping it running is an art in itself. Many Australian companies have tried the "transformation" path and it has cost them plenty in many ways. This one doesn't have the scale for a transformation and is possibly too far gone down its current path to turn around as they have scant cash, are not cashflow positive and have a newly committed processing plant.

Tough call along with quite a peeved shareholders on the register.