Yes a big gap, the question we cannot answer without more information, is how much is due to ongoing research and scale eg very high manning costs/unit of product.
The now somewhat outdated (actual results are better than models in some areas) commodity input modelling shows solid profits can be expected on a commodity input basis. So still a bit to come out here, but I cant see ARENA showing any interest if the numbers dont add up at scale.
https://www.asx.com.au/asxpdf/20180228/pdf/43s02ddygpyy15.pdf
Yes a big gap, the question we cannot answer without more...
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