Ann: Q3 FY24 Quarterly Activities Report and Appendix 4C, page-10

On the right path.

Continuing to add to the long term revenue (now $132m locked in) over the next 5 years before any new contract wins over that time frame.

Reduced costs by approximately 15%.

Becoming cash flow positive so no further capital raises should be required except for any acquisitions/corporate activity.

They just need to put their heads down for a couple years carefully managing costs, continue to grow the future contracted revenue and lock in some positive cashflow to build their cash buffer. Then they can consider potentially starting to return some cash back to shareholders.

The share price does not reflect the underlying value of the business and the quality of its annuity style revenue stream.