Lack of direction Nothing is locked in It's burning cash, with no outlook to generate revenue.
They basically need to raise/borrow/partner up to get a billion to build a plant in Dubbo or partner up with a company in Korea with a plant before they generate revenue. The share price went nuts when the impression was the Korean partnership was locked in, and it has tanked since that has fallen through(?) (no one that owns the stock actually knows what has happened)
My thoughts are, the share price will go nuts again when something is locked in, this could be six months it could be six years it could be never. The board seems to fat and burns through too much cash for what they're doing, i expect there will be multiple cash raises in the future. I'm holding but lack confidence, probably worth a punt at this price.
ASM Price at posting:
$1.44 Sentiment: Hold Disclosure: Held
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