They’re still not close to making profit but the organisation seems far more professional under Mr Dow than previous management. Obviously the share register has taken a battering with each capital raise (and another $69M to come) but they’re in a rock and a hard place here.
The cash waterfall probably looks a bit worse than things really are because they had to spend that $15M from the FTS by the end of 2024.
The wider market conditions are out of their hands but all things considered I think they’ve done really well to avoid C&M.
SYA Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
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