I've had LAA on my watchlist for some time. Hell, it's a slow business getting it wound up (as in getting to be profitable not winding it up!). Looking at the cash flow statement in Jun half year report they burnt through $6.4m in operational cash flows and a further $1.1m in maintenance capex, totalling $7.5m for the 6 months. This is up from $4.6m in the previous corresponding period. The cash receipts, on the other hand, rose by only $168k in the period, from $3.340m to $3.508m. I know they're ramping the business up, but it sure didn't get much response.
The Sept presentation certainly points out the positives and I wonder if they are laying the basis for a CR, although they shouldn't need one until 2017.
I'm not meaning to downramp, the increase in the share price in the last few days caused me to take a closer look to see if I should get in on the action. But looking at the figures I think I'll leave it on my watchlist for now.
LAA Price at posting:
21.5¢ Sentiment: None Disclosure: Not Held
