Core business is in fine fettle and the order book is robust.
But the total lack of progress with the final MEG installation at the Barrow Institute and Somfit commercialisation is frustrating. Given how long both these items are taking it would be very helpful for management to give some colour with respect to the status for both items. Just copying and pasting what you have said in the last investor update and the one before that, and the one before that and even the one before that, is not good enough in my view.
The phase II MEG installation at the Barrow Institute needs to be resolved and resolved quickly. it can not be benefiting additional MEG sales when it has taken more than 3 years from completing your phase I commissioning to starting/completing phase II installation. This is a KOL/ luminary site and as we learn to live with COVID, peoples memories of the disruptions will fade and so will their understanding of COVID related disruptions. If I was responsible for buying a MEG right now, I would not be buying form us until, I saw the system was up and fully operational at the BNI and that their KOLs were all smiles and had given it a thumbs up.
CMP Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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