Looks to me WHA mgt have pulled a rabbit out of the hat.
1/ managed to get a reduced price for BnP.
2/ sidestepped the venture capital rape.
3/ switch to equity raise to complete the transaction.
4/ transitioned to/recruited personnel that are suited to launch this business.
5/ secured $20M underwriting
6/ debt is on very reasonable terms, better than mates rates.
7/ vertical integration is real, locked in organic supply. this is the real differentiator for the company.
8/ money is being spent on plant. under budget and mid 2020 start.
9/ CR at 40c, proceeds used to buy revenue generating business units, forming part of the vertical integration.
This is not bad really considering the co had to change tack mid stream when the SAMRs were held up. Remember, the deals in place, all waiting for SAMR?
All the detractors bagging lo sales here in Aus should consider that the china mkt is the goal here. The co. is positioning itself to sell a unique story to the china market. There are risks, but i think we are a lot better off than a month ago. Ill chip in for mine.
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