Exactly. While I was not a great fan of the customer base for that last CR, it was sorely needed to keep the ball rolling after last years delays & NZ bang up. This will have a roughly AUD$80,000/month positive impact on the bottom line, and remove about 15% of their cash burn as of the last 4C. All done with a CR at a 20% premium to the ~ average SP since the CR (eyeballing the charts ~60c). I stand by my reservations about the company we keep on the registry, but have to concede it was a sound financial move. Especially given the commissioning delays.
KSS Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held
