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4.0¢ top shelf international holdings ltd

I take that back - don't sell the Campbellfield packaging op,...

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Against_

56 Posts.

7

01/03/24

09:44

Post #: 72687205
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Originally posted by Against_: ↑

I'd be interested to hear a compelling bull case for this stock that is actually going to move the needle on this one. Yes, they have well-rated products, a growing number of distribution points and a seemingly well-credentialed management team - BUT - the cost base is too simply too high.

The sale of the farm does little to address this - selling the farm for $10m while paying rent at 10% pa. is just an additional expensive line of credit that simply adds to ongoing costs.

Another cap raise this year wouldn't be surprising, adding to the massive recent dilution.

There was a comment in the BDO Auditor's report that the company was exploring offloading the Campbellfield - is this still in play?

I wouldn't mind knowing a bit more about the expected ROI on the $100k sponsorship of Grove Racing because paired with the farm sale, it seems like a bit of a cheeky piss-take

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I take that back - don't sell the Campbellfield packaging op, maybe look at offloading the booze arm lol
Contract Packaging revenue up 55%
Branded Products down 10%
TSI Price at posting: 21.0¢ Sentiment: Sell Disclosure: Held
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