$10m is a decent story, but why I think mgmt felt the need to do this is because the share price has languished despite the broader market rising (incl the share prices of other small caps).
What is less positive is these are "Sales order intake" and although they have a shorter gap between intake and execution (I imagine Illunminate & Access should be in the same half), there is a lag on Detect with the Chile mining one being quite long dated (2nd half of calendar yr 24....so FY25 revenues)
So I think this is way of saying yes we have orders coming in, but revenues are not going to be great in 1H24 (and perhaps even 2H24).....note that they did not update their 1H24 revenue forecast of ~$14-15m (given 24th Oct).......where they also indicated that "second half revenue will substantially exceed the first half"......I think they will have to actually deliver on that for investors to show some trust in mgmt.
$10m is a decent story, but why I think mgmt felt the need to do...
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