They announced a market update on 2 Oct 2023 and also a market update on 19 Oct 2022, so I was thinking they will do sth similar this year in Oct given how important this could be to turn the SP back on track. However, I assume they are not obligated to do so.
It looks like the SP has found some support at 19c-20c level however unless there is some positive news announced (e.g. refin debt and get 3%-4% interest cut), it will be hard to go back to 30c level. As shareholders we are not stupid and of course we are ready to take some debt to get long term benefits and growth, but 9m interest cost is not a small amount (almost equal to its net profits) so reducing the debt level/ interest cost is critical at the moment.
Unless, CLG tells us they could grow their revenue up to 300M+ for FY25, I will be ok with the debt.
They announced a market update on 2 Oct 2023 and also a market...
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $106.3M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 20.5¢ | 19.5¢ | $142.4K | 710.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 628737 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 106488 | 5 |
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| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| CLG (ASX) Chart |