Problem is their cash flow I think froggy. It is not instilling a lot of confident for the equity market. The business model is simple and I like it but they should be showing good cash flows by now.
I agree the 4c Should be better but I am starting to think is that enough? What happens during the off season months then again? I think if they were serious they would immediately put all Exco salaries on hold for 6 months and a 50% reduction on sale staff salaries. Pay off some debt and retain some earnings. Or just sell it for $25m and move on.
At the moment they have not done a good job of updating what we have got back for the $17m debt draw down.
LPE Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
