To be fair Max, that was by the old Exec.
Matthew W is not going to be putting out wild numbers like that anymore.
I expect him to be a lot more conservative. His experience at WAF should keep him in good stead.
There are likely many reasons the Exec left and Matt took the helm, my guess though would be operational reasoning............... and that is all I will say on that.
The company clearly needs to step up its communication with the market, as last year they were all about updates very regularly, now.... not so much.
No point hiding anything, better to be upfront with the market. I am hopeful they will come out with an April update to truly show that they are indeed on the right track. The debt facility is interesting, as it states its undrawn currently, but....
They have had it available for over a month now, yet not used it....
Yet the facility expires in 4 days. I would like the company to be much more upfront about this.
If they drawn down on it. Then tell the market. If they don't, definitely tell the market, as that would mean they are already cash flow positive!
There is still risk for me, but... the upside if they execute and just achieve the lowish guidance, should seem them in a very good situation by the end of 2023. Let me say low, it is without doubt a big reduction in guidance from what the old Exec was spouting....
