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I don't think it's amazing that they burnt $300m, all...

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  1. ChopsInOz
    108 Posts.
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    23/06/24
    14:23
    Post #: 74446134
    I don't think it's amazing that they burnt $300m, all though that is shambolic and a reflection on terrible management capability.

    If you look at the Balance sheet Dec '23 to April '24, another $10m down. Produced 700kg last quarter. The spending has not stopped and the board is not being upfront with investors where that money is going.

    $10m on its own should easily buy that capacity and more.
    Likes Created with Sketch. 3  Upvote
    lightbulb Created with Sketch.  Great analysis
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