Results just emphasise the lumpy ordering here.
this now needs results, and only way to get there is through scale. they need to be selling 1000’s of halos. Ramp up is slow and buying a few halos here and there is not going to make it happen.
still looks to be a while away before meaningful scale is going to happen in this space.
Ann: Quarterly Activity Report and Appendix 4C, page-7
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