That's a fair point. I had missed that. But consider that TF generally is a form of working capital management that extends payment terms by up to 180 days. NWC in 2019 (excluding the TF) was $17m (13.7+8.7-5.4) compared to $7.9m in 2020 (4.9+7-4). That means $8m has been sucked out of NWC in 2020 - $4.7m paid out the TF, where has the balance of $3.3m gone? I still maintain the company will need working cap once its order pipeline begins to grow. Where will that come from?
Ann: Ceasing to be a substantial holder, page-6
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Last
25.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.07M | |||
| Open | High | Low | Value | Volume |
| 25.5¢ | 26.0¢ | 25.0¢ | $23.82K | 93.42K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4925 | 25.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.0¢ | 18000 | 2 |
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| Last trade - 14.31pm 21/07/2025 (20 minute delay) ? |
| MCE (ASX) Chart |