Ann: Notice of Results - FY23, page-13

Sure, feel free to disagree- I welcome all opinions. LP, ok your proposal is effectively what they've been doing......an honest question....where's it gotten them? Effectively a hamster on a wheel......a bigger wheel proposed yet still not going anywhere. And that's the truth. If they ran it with a private equity mindset rather than a profitless empire building one, I'd vouch shareholders would get a long awaited return. BTW I'd suggest depreciation can't be ignored or excluded as you suggest....this is a capital intensive business and those depreciation expenses are real & represent the cost of maintaining assets. The problem is new shiny new kit which the Board seems very fond of depreciates quickly....like the new car out the dealership analogy. Doomed to profitless growth until they take a different view of the business. I'm a holder for now (I exited half my holding at 18-19c) because it has the potential to be a great business.....but it's not now (the numbers don't lie). I'm surprised this hasn't had takeover approaches because the potential is there. I doubt these guys can realise it though as evidenced with what they're doing