I sincerely hope you are right but I continue to be concerned...

I sincerely hope you are right but I continue to be concerned with the recent report from Morgans (late Nov) giving the target as 29c (already exceeded) - net gearing FY21 600% - EPS minus 7c - Revenue decline of $85m - net profit minus $13.5m. My reading of the FY2020 report shows Trouchet as admitting that ATL was at risk of breaching its covenants in FY2021. I understand several of those conditions have been wavered but there is still an issue with a Canadian lender - I hope that they soon report that they have attended to this matter as it will be viewed seriously in any future Auditors report. As Morgans have been quite close to this business and have had add ratings for it most of the time I have tended to keep in mind any comments arising from them. I am well underwater with them and they occupy a reasonable portion of my portfolio so I truly hope that the Morgans analysis is flawed enough to see my holding break even during FY2021.