Yes, WD, but the interest is still there. Cannaponics, who took over the failed Tikuna project in WA ($5K revenue only, I believe) raised $1 million dollars in 30 minutes and over $3ML in 24 hours in a crowdfunding campaign yesterday. So the dollars are still there in the industry.
My concern is that many of these publicly listed guys, like CAN etc are now being hamstrung by large loans $65.76ML, as you would have seen in my last post on Quarterlies for the industry. Rushing in with these projects, with the size of the Australian population, and the current legislative environment will saturate an already tight market. These are no small shed operations. Canada is the prime example of 'sector throttling' for Cannabis. My question is: Will there be enough business in Australia for these many operations, good management, or not? The saturation of a market kills profits!
AC8 had big plans and they are hamstrung at the moment, ZLD only made $77,000 in revenue last quarter with $2ML OP.EX, CAN made $4.137ML revenue but $9.25ML OP.EX, EOF turned $6.781ML with $10.669ML OP.EX. It shows that we have a very tight market in Australia, and it is only going to get tighter with all these new facilities coming online.
CGB???? Need to really consider how to line their ducks up, and find a niche 'saleable' product or get established in a market where they can excite new investors; or, get back to being Mining Explorers. Just a few thoughts.
