Had completed $2m of sales in this qtr by the time the last quarterly was posted, so in the remaining 5 months, seem to have sold only 800k. Most of the cashflow coming from MIS sales rather than pearl sales for now. Looks like the MIS customers will keep the bankers at bay, with a further $6m of committed cashflow to come. Just as well, as half yearly could be a tough one, especially if they actually take the hit to oyster/pearl values that they should.
Still, bottom may have been passed for pearl prices, so if they can survive long enough, perhaps they will see the market eventually match up to their biological asset valuations...
APB Price at posting:
3.0¢ Sentiment: Sell Disclosure: Not Held
