Agree the presentation was only basic and provided little which hasn’t already been disclosed to the market, though having said that, I feel Alex is a humble guy, very much a quiet achiever without an overblown ego or the need to constantly prove himself. He also seems straightforward, honest and deeply committed to the growth of the company.
I also feel his Tasmanian farming heritage, agricultural credentials & financial markets background provides the company with an ideal skill set directly applicable to this period of development.
Perhaps in time the company will appoint a dedicated PR individual who can churn out highly polished, slick presentations which may be more appealing, especially to new investors, though personally for now I’m happy to hear directly from the Managing Director.
I’m glad the question was finally asked re the CR, his response was as I would have expected, management know it was a surprise to holders, however obviously it would have been carefully considered and determined to be in the company’s best interest to proceed as such.
I’m certainly no fan of CR, and have seen way too many for my liking, though IMO if it were going to be required at some stage, it’s best to just get it done and move forward. Short term pain for long term gain, and it may well turn out to be a pivotal move that sees a more rapid scaling and increased production capacity across both sites.
It seems there are plans to upscale/develop manufacturing capacity at the MM site, Alex mentioned this today, and while I don’t recall his exact wording, I took it along the lines of installing processing/production equipment (if anyone can clarify please do so). As far as I am aware, MM is cultivating and does have drying/curing/clean room facilities, though despite having GMP certification for dried flower, oils & tincture, there is no processing or extraction equipment on site. IMO if the site were to be upgraded with such capabilities, the path to market could be far more rapid, especially seeing as the TAS site does not yet have GMP certification.
This is what jumped out to me most today, and if new capital was going to be required to fund such expansion and therefore production capability, a modest CR is a small price to pay to enable the company to stride well ahead yet again.
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