Ann: FY20 Overview, page-25

That is merely the cash on a specific day known as 30 June 2020.

They have $4.3m in trade receivables with comparatively minimal payables and sitting very comfortably with inventories and new equipment fixed assets paid for.

So, they spent cash to grow inventories and production capacity while competitors sit on their hands. Which is what we want them to be doing.

I recently contacted a competing zinc oxide supplier to suss out their availability out of interest and was told I have to wait 20 weeks (plus freight) for them to supply me with only a 1kg sample. Yeah, right. Anyone in my supply chain who can shorten delivery cycles down to mere days is getting my business.