Ann: VALMEC MARKET UPDATE, page-18

Quite impressed with this update and VMX in general quite honestly.

Being a company in their industry, you would expect a hell of a lot more downturn and a much larger cut back in pipeline works. Instead, what we've seen is that VMX have been winning new jobs, are still looking to generate $5.7m in EBITDA, much unlike many other companies out there who are currently struggling, and are looking to raise cash within any means necessary. VMX have also been consistently growing their catalog of future works, and FY21 is shaping up to be a breakout year for VMX. All of this for a company which is currently valued at $20m is a fantastic sign imo.

Unlike many of the holders who exited yesterday at market open, I perceived the announcement as quite positive and I was able to pick up a few shares at 13.5c.

The brief update on the John Holland litigation is also welcomed with yesterdays announcement.

I maintain a Buy sentiment on VMX and will look to acquire some more shares over the coming week given this update.