Only got to review this preso in detail this morning. I'd agree with you on all that @onmyway..
Any potential investing newbies would be seriously impressed by the, as you put it, 'solid foundation' of work Blg has. However the sp is where it is for a reason......
I did post after the recent 4C that the Capex spend should reduce over this current quarter, with "normality" of spending to return in Q1 2019/2020. But yes, the R& D Tax Rebate may save us for a quarter or two, but there currently seems to me to be an inevitability of another cap raise, probably first half of next year.
Just on this preso, and the "Elephant in the Room" question of revenue for Blg. Am i the only one or has anyone else picked up on the fact that there was absolutely no reinforcement of the previously mentioned "ongoing negotiations with Lumileds" line. Yes, a few cursory mentions of Lumileds, but it would appear that horse has bolted......
Sadly, it would seem we have all been 'blinded' by that light......
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