Ann: Freedom Completes Successful A$25 million Share Placement, page-17

I agree with your analysis , however the pro forma EBITDA on page 16 shows EBITDA Jul 19 AU$72m. Subtract $9m in Jul and that shows a healthy earnings of $63m as at Jun 19. 6.3cpc x10 P/E = 63 cents share price. I'll be happy with that considering everything that has occurred in the past.

I also was not happy with the Share Placement especially prior to 30 day production announcement and also the suspect trading prior. I expected the Wells facility to do the job that this placement is doing and there has never been a suggestion otherwise that it would not.