We've hardly even penetrated the Australian market. LBL potentially has the WA increase from 40-51% ownership to fund in two years from now. And the disruption and expense of the QLD upgrade/relocation ahead.
I couldn't see how we could afford the US expansion. Especially with the $AU at 59-60¢, and the low share price meaning a sizeable dilution to raise funds if required. The last dividend was (rightfully) cut. Pipe dream is correct. I'm glad it's been put on hold.
I would rather see a small bolt-on acquisition in Australia. Perhaps something in central or northern Queensland if something comes available. Or nothing at all -- just focusing on the five existing sites please! Then do the US site from a position of strength rather than (the current temporary) weakness.
LBL Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
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