Ann: Market Update, page-68

Well I played my role in the "CLG buying team" today

Picking up another 35,050 shares at 28.5 cents.

I spent some time on the weekend going back through all the announcements over the past couple of years since listing.

Clearly management need to successfully integrate all the aquisitions to be able to achieve the $200m in revenue & $43m EBITDA that is forecast for this year (23/24), and they have just re-affirmed this guidance.

There has obviously been quite a few acquisitions - so we will need to keep an eye on their cash flow generation.

But the positives are:

This company is in a great space going forward - with some huge tailwinds.
I am bullish about the potential for their TonerPlas asphalt / bitumen product - which has already been involved in some major projects, and it sounds like they will roll-out this product ASAP to other countries.
The cosmetics recycling partnerships should also be a big winner, and MAC are a large company in this space.
And I like the way they have structured their acquition deals - particularly Alliance Paper & the big acquisition (ISP Tek Services).

Think there is still a seller from off screen, but hopefully this dries up soon - so the share price can start to recover.