Well considering Shaw Partners updated report the figures should...

Well considering Shaw Partners updated report the figures should be pretty accurate.

My reading DYOR

Losing about $5m a month in last qtr ($50m to $35m at 30 June)
Forecast to continue to burn cash in upcoming qtr but assume a lower rate (Assume lose another $10m)
Starting Oct - Dec Quarter expected to break even and then be profitable (So they assume they will have throughput 80% plus?)

So expected case is they get down to $15m or so and then become profitable. If this happens share price sell off way over done, however if this gets pushed back any further then share price could get down significantly and a CR would be a disaster at this point.

Overall I feel sell off still way over done. Valuation of 65c seems reasoanble target and then increase with scope extension if cashflow positive in early 2024 assume news on Fugoni etc.

May need to avg down and risk exists but still seems reasonable punt from here.