My view is that the inventory purchases is in excess of what is...

My view is that the inventory purchases is in excess of what is “suitable”. This view is based on the 2022 Half Yearly report’s Balance Sheet.

The period began with $1.5m in the inventory, the company made additional purchases in excess of $3.0m and only used $1.5m of the inventory, ending the period with $3.0m worth of material and equipment in the inventory.

In short, the company purchased double what they used in the same period.

Don’t get me wrong, I too find the fact that directors keep topping up a good sign.

But there will be a difference in the Share Price if the Profit and Loss showed $1.5m in profit.

Most people surf through tens if not hundreds of Financial reports. They don’t necessarily have the time, or the accounting background to get into the details. This company has become an obsession of mine so I look through thoroughly.

I’ve been holding since 2020. Bought in at 0.9c and have been topping up regardless of the SP whenever I have some spare cash. My average is 1.6c. I consider the current share price just fine given my long term investment strategy.

All of that aside, I do get the sense there are other parties involved. I noted there’s accumulation activity at play.